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Medium-term export strategy on anvil: Maran

EXIM POLICY

The government on Saturday said that it would soon finalise a medium-term export strategy for the next five years to tackle the slowdown in demand from major economies like the US and Japan, and would not hesitate to re-impose QRs if the situation so warranted.

"The medium term strategy is on the anvil and the initial draft is being prepared focusing on exports for the next five years (2002-07)," Commerce and Industry Minister Murasoli Maran told reporters after unveiling Exim Policy for 2001-02.

Allaying apprehensions of a glut following the lifting of Quantitative Restrictions on the remaining 715 items, Maran said under the WTO stipulation it was possible to re-impose QRs for a short term and the government would try to get through the Foreign Trade Development and Regulation (Amendment) bill in the current session of Parliament.

He said already 300 sensitive items had been identified which would be monitored on a regular basis by a Standing Group comprising commerce secretary, revenue secretary and other officials.

This group would function as a 'War Room' for tackling and analysing data on these items and a monthly statement would be made available every month, he said.

ALSO READ:
Exim Policy 2001-2002: Full coverage
Union Budget 2001-2002: Full coverage

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