Steps to Cut Export Costs to be Implemented Fast: Scindia.

New Delhi, (PTI) A government report on steps to cut transaction costs for exporters will not be allowed to gather dust and would be implemented as soon as it is released, Minister of State for Commerce Jyotiraditya Scindia has said.

The minister said task force headed by him has been considering ways to bring down the transaction cost, which accounts for USD 13 billion, for exporters.

He said the report of the group would be releaseed "only after all notifications relating to the problems identified are issued by the ministries concerned so that the report does not remain on paper but actually help the exporters".

The Ministry had set up the task force in 2009.

It has identified several areas which could be finetuned to simplify procedures and bring about more transparency.

India''s exports during April-October 2010-11 increased by 26.8 per cent to USD 121.4 billion and the government is expected to cross the USD 200 billion target this fiscal.

Scindia gave awards to 94 exporters across sectors.

Reliance Industries Ltd bagged highest foreign exchange earner award followed by Hundai Motors India Ltd and Bajaj Auto Ltd.

Source : news.in.msn.com