BUSINESS

Trade Policy on April 7

NEW DELHI, MARCH 24. The Foreign Trade Policy for 2005-06 has been delayed by a week and will now be unveiled on April 7 instead of March 31 as usual.

"We have decided to delay the policy by a week as we want to present it along with the export figures,'' the Union Commerce Minister, Kamal Nath, told PTI.

He said the Government would like to present the policy along with the number of new jobs that have been created because of trade initiatives taken in the previous policy.

Mr. Kamal Nath had earlier in the day met the Finance Minister, P. Chidambaram, to finalise the details of the policy.

Targeting $100 billion in exports in 2005-06, the policy is expected to unveil a slew of measures for pharma and auto component sectors besides procedural simplifications and new Duty Entitlement Passbook Scheme.

Dairy products such as cheese, butter are likely to be brought under the ambit of the much-touted Vishesh Krishi Upaj Yojana besides some special provisions for the farms sector under the existing scheme.

The policy will also unveil a comprehensive strategy for pushing up services exports further. The merchandise and services exports together are likely to be around $130 billion this year. — PTI

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