ESC hails India’s export promotion measures.

DUBAI — The measures announced recently by Government of India to promote exports will encourage foreign trade, said Kamal Vachani, Regional Director of Electronics and Computer Software Export Promotion Council (ESC) for the UAE and the 
Middle East.

Last week, India’s Ministry of Commerce and Industry announced the annual supplement 2010-2011 to the foreign trade policy for 2009-2014.

To encourage and sustain the market, an additional benefit of two per cent bonus, over and above the existing benefits, will be given to about 135 existing export products, according to the foreign trade policy announced by India’s Commerce Minister 
Anand Sharma.

The new policy has added around  256 new products under the Focus Product Scheme (FPS), which shall also be entitled for the bonus benefit.

To support and boost technology upgradation, the zero duty EPCG (Export Promotion Capital Goods EPO Engineering Process Outsourcing) scheme, which was originally introduced for two years, has been extended by one more year, while also expanding the range of products. This will encourage the units to upgrade and bring the latest technology products with international standards to exports, Vachani said.

ESC is an autonomous organisation under the Department of Information Technology, Ministry of Communications and Information Technology, Government of India. Vachani was appointed its regional director in June last year.

Source : khaleejtimes.com