Medium-Term Export Strategy To Address War Impact

The medium-term export strategy being prepared by the commerce department will address the situation arising from the US-led strikes on Afghanistan, minister of state for commerce and industry Rajiv Pratap Rudy said today.

"The medium-term strategy to boost exports will address the situation created by the attacks on September 11 and the subsequent US strikes as also taking into account the impact of the global slowdown, " Rudy told reporters after inaugurating a virtual trade fair by Agricultural and Processed Food Products Export Development Authority (Apeda).

Rudy also said that it would be difficult to assess the impact on exports as a result of the recent tension. He refused to specify any timeframe on the medium term export strategy, but said it would be announced soon. Commerce department officials said the medium term export strategy which has been under formulation for almost a year now would come around the same time as the Exim Policy for the next fiscal.

To give a fillip to exports, the government has been stressing on exploration of new markets in Latin America. Rudy pointed out that an interest rate cut for export credit and improved duty drawback rates had already been announced.

He emphasised the importance of agricultural exports and said agri export zones would provide good returns to farmers in a sustained manner.

Rudy said government was setting up wholesale market-cum-auction centres for flowers in Delhi, Mumbai, Chennai and Bangalore to step up horticulture exports. It was also creating integrated cargo handling facilities for perishable commodities at Mumbai airport.

Spelling out the objectives of online facilities, Apeda chairman Anil Swaroop said it would reduce the avoidable physical interface between exporters and the authorities.