Small Scale Industries, which bring into the country the maximum amount of foreign exchange, are the backbone of the nation's economy, according to D. Gajapathy, Joint Director General of Foreign Trade.
He was addressing a meeting organised here on Thursday by EEPC India, Madurai District Tiny and Small Scale Industries Association (MADITSSIA) and Export Credit Guarantee Corporation of India (ECGC). Formerly known as Engineering Export Promotion Council, EEPC India was set up in 1955 under the sponsorship of Union Ministry of Commerce and Industry for promoting exports of engineering goods, projects and services.
Addressing the gathering of entrepreneurs, he said that such meetings to promote exports should be held periodically at least once in every three months. Through such occasion, entrepreneurs could get to know of government policies and the concessions being offered while the government officials could ensure the information reached the target audience.
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Many SSIs are apprehensive regarding exports due to lack of information. All the requisite information was available online, he said, adding that it was easier to export now compared to few years earlier.
Regional Offices of the Joint Director General of Foreign Trade had been established in several major districts of South India including Bangalore, Hyderabad, Chennai, Thiruvananthapuram and Kochi besides Madurai. The Madurai Regional Office covered the southern districts of Dindigul, Theni, Sivaganga, Ramanathapuram, Virudhunagar, Tirunelveli, Tuticorin and Kanyakumari.
The first requirement for export/import was IEC - Importer Exporter Code, which could be acquired expeditiously. In importing and exporting, several classifications and restrictions have been put into place the details of which could be obtained from the website.
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Mr. Gajapathy went to elaborate the rules, regulations and restrictions regarding imports and exports.
R. Srinivasan, Senior Executive Officer, EEPC India, Aruna Srinivasan, Madurai Branch Manager, ECGC, N. Somasundaram, MADITSSIA president, L. Murari, Treasurer, spoke.