The deliberations of all the four Working Groups and their recommendations would be summarized and announced before the summit moved for its valedictory session. The valedictory session will be addressed by the Prime Minister Dr. Manmohan Singh on 1st September 2007 (Saturday). In the valedictory session the recommendations of all the Working Groups will be presented to Hon'ble Prime Minister.
It may further be recalled that the competitiveness of the industry had suffered in recent months on account of the steep appreciation of the rupee. Other factors like high transaction cost, power cost, technological obsolescence, local levies had also had their impact.
The recent steps taken to address the impact of the rising rupee on exports like revision of the duty draw back and DEPB rates for exporters would provide some relief to them. Government was open to consider further steps to mitigate the impact of the rising rupee on exports.
With these measures the Government was confident that exporters would be able to realize the targets of US $ 25.2 billion set for this sector for the year 2007-08. The Technology Upgradation Fund was being extended with the higher allocation, the details of which are likely to be announced shortly.
The Industry expects the integrated and holistic view of the policy requirement to be favorably responded by the Government in TEX Summit 2007.
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