India Inc hails new policy

Confederation of Indian Industry Director General Chandrajit Banerjee said the focus in the FTP on 26 new markets will greatly benefit exporters who have been hit due to demand slowdown in the country’s traditional markets.

Terming the policy as ‘user friendly’, Assocham said “... it rightly focuses on creation of demand for Indian products in new markets to help exporters distribute and diversify their risks.” Fieo, apex body of exporters said the government has provided impetus to the labour intensive sectors like textiles, handicrafts by giving them additional benefit under various schemes like focus market and focus product.

Tirupur Exporters’ Association (TEA) welcomed the measure of providing additional duty credit scrip at one per cent of FOB value of exporters being made in 2009-2010, 2010-2011 to status holders.

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