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Consumer goods' imports freed

In a landmark move, the government on Saturday allowed imports of potatoes, coconuts, fruits and vegetables and a whole lot of consumer goods including TVs, carpets, garments and ACs with the phase-out of quantitative restrictions (QRs) from April 1.

Outlining the Exim policy, which has several major export initiatives including setting up of Agri-economic zones to take India's share of global trade to one per cent by 2005. Commerce and Industry Minister Murasoli Maran also said adequate safeguards would be put in place to guard against the opening up of the "floodgates of imports"

The safeguards included an "early warning system" and creation of a standing group which would function as a "war-room" for tracking, collating and analysing data on 300 items like agricultural products which are of importance to the public.

On efforts to boost exports which are expected to achieve the targeted 18 per cent growth this year, Maran announced strengthening of annual advance licensing scheme, extension of validity of duty free replenishment certificate scheme, package of incentives to special economic zones and simplification of procedures.

While QRs have been totally dismantled from tomorrow as per the WTO commitment, import curbs on 600 items of defence, health and internal trade obligations would remain as maintained world over, Maran said.

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

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