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Poll conduct code export strategy announcement

The announcement of the medium-term export strategy scheduled for today was deferred in view of the Election Commission's directive against taking any policy decision in violation of the model code of conduct.

Minister of State for Commerce Dr B B Ramaiah explained the government's stand at a press conference originally called for announcing the strategy.

About the country's export performance, Ramaiah said exports were likely to go up by eight to ten per cent in dollar terms during the current financial year. Imports growth had remained at 6.5 per cent, reflecting only a marginal increase in import values compared to the previous year. However, imports of fertiliser, coal and precious stones went up while oil imports registered a fall.

The commerce minister said the trade deficit during April to October this year was placed at 2,676.59 million dollars.

He said sectoral problems faced by gems and jewellery, leather and allied product manufacturers, ores and marine products have been handled effectively. The export performance of gems and jewellery recorded a turnaround in the second quarter and is expected to be sustained.

He pointed said effective measures have been taken in leather manufacture in consultation with the ministry of environment in implementing pollution control measures under a centrally sponsored scheme with active participation of the state governments.

UNI