WTO-compliant scheme to replace DEPB for exporters
21 Dec '05
1 min read
New WTO-compliant scheme would replace the Duty Entitlement Pass Book (DEPB) scheme for exporters. The new scheme would be implemented from April 2006 stated E.V.K.S. Elangovan, Minister of State for Commerce and Industry.
Eliminating the loopholes, this scheme would help exporters capitalize in the WTO regime, said Elangovan at the meeting of Shellac Export Promotion Council.
Since exports performance of textiles, garments, gems/jewellery, engineering and leather goods was remarkable, Minister assured that export target US$ 92 billion for 2005-06 would not be a tough nut to crack for India.
India has acquired 20-25 percent increase in exports in the preceding quarters over the corresponding year, he said.
India proposes to double its international market share from 0.8 percent to 1.6 by 2009.
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