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Banking
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EXIM Policy 2000-2001
TEXT OF SPEECH (EXIM POLICY 2000-01)
[Text of the speech delivered by Hon’ble Commerce
Minister on the occasion of release of the Exim policy is an important
document for all associated with financial sector.]
I am of the view that Custom clearance should be based on self-declaration and even random checking of such consignments should be rare and only when there is credible information of possible malpractice; and further such right should be exercised only by officers of certain rank. Meanwhile, I am happy to announce that Green Channel facility is being extended to all manufacturer exporters who are Green Card holders. I am sure that this facility will help speed turnaround of all import and export cargo of Green Card holders. After I joined this Ministry, I have been receiving large number of representations seeking resolution of past issues. I see that most of the issues are pending for quite sometime and I find that no solution could be found so far. Finance Minister and myself have discussed the issues and have decided to examine the various alternative solutions so that once for all these old cases could be disposed of one way or the other. We hope to issue final orders in all these cases in 3 months’ time. Let me also explain the steps we are taking in my Ministry in particular and the Government in general in the matter of internal automation and computerisation so as to improve efficiency and ensure transparency in exporters’ interface with the government regulatory agencies.
Though there has been some delay in the internal automation of various regulatory agencies, in perfecting the software and in establishing connectivity between the organisations, I am happy to declare that the Directorate General of Foreign Trade has been able to achieve commendable success in its efforts towards computerisation. I must compliment the officers and staff for their dedication in this direction. Already electronic filing of applications has been introduced in six major offices. I have directed that licences for the applications filed electronically shall, in the normal course, be delivered within 24 hours. I am even contemplating to reduce the application fee for electronically filed applications so as to encourage the exporters to do so. For all status and Green Card holders, the electronic filing of applications shall become mandatory w.e.f. 1.7.2000. This facility will be available for others also and they will be given the same efficient and quick service if they also follow electronic filing. I hope that during the course of this year electronic filing of applications would become the norm. The benefits to the exporters are well-known especially the transparency it will bring, the speed of disposal and the efficiency it will bring about in offices which should be of great benefit to all. The customs, ports, airports, banks, and CONCOR are also making all out efforts to computerise their operations and I hope that EDI will become operational in a few months time. Cabinet Secretary is personally monitoring the implementation. I have been assured that in the next few months and positively before the end of the year EDI will be fully operational. Then it will be possible for the Drawback to be credited to exporter’s Bank Account instantly, the logging of DEEC can be done electronically and it should be possible to issue export replenishment licence, etc. automatically. I am sure everyone will agree that at the dawn of the 21st century, we cannot continue with the communication modes of the 19th and 20th centuries.
Last year all the facilities available to merchandise export were also extended to the entire service sector. As service exports are going to be important part of our export basket, special attention is being given to export of services. Hence, all service providers whether tourism, health services, or accountancy can avail all the applicable benefits under the Exim Policy like the information technology sector. In this connection, information technology and other service sectors have been representing that customs bonding should be done away with. I am happy to inform that the necessary amendments are proposed to be issued shortly for the information technology sector. I am also conscious that to make businessmen turn to exports we have to make export effort hassle free besides being profitable. I recall what Thiru A Ramaswamy Muda-liar who chaired the Export Promotion Committee in 1961 said in his report "Mercantile community cannot be expected to be guided by altruistic or patriotic motives and will expect to receive for its efforts in the export market,a return which stands in reasonable relation with the profits on domestic sale." –– These words are true even today. India, by not following vigorous policies, is undoubtedly ceding billions of dollars of FDI to its East Asian neighbours each year –– flows that otherwise would have come to India. I learn that our cumbersome procedures, delays, changing incentives packages, anti-FDI bias in some quarters, etc are the explanations why foreign direct investment is not forthcoming into India for export purposes. The alternate locations are more attractive. I hope that with the Special Economic Zones, the procedural constraints and delays will be taken care of and FDI for exports will also be attractive. The Government machinery is being reoriented to the new task of encouraging, assisting and facilitating exports. The mind-set will have to be transformed from one of authority and powers to functions and responsibility. The DGFT organisation will be reoriented in the coming years to cease to be a licensing office and regulator and function as a facilitator. Government is committed to bringing about the necessary changes in all regulatory agencies to make India an important player in world trade. We as a nation have the most enterprising business community; we have the technical skills and rich history of trading. We have to only free the business from needless restrictions and enthuse them to channelise their energies towards exports.
The
Exim Policy is only a small but important beginning of the overall
Government strategy to bring about a special focus on export for creation
of employment and to achieve high economic growth. India is a unique place
–– there is a modern India which exports knowledge –– intensive
products; there is also the traditional India which continues to export
some of the finest handicrafts. We can thus maximise our comparative
advantage over the entire spectrum of goods and services. What is needed
is change in our thinking and mind-set and action to pave way for a
quantum jump. India’s moment has come; Let us not blow it now.
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