Inland haulage charges applicable to domestic services have also been removed. However, there are some extra costs which are still unrebated like CST, FBT, octroi wherever applicable etc, are still there. But we are sure that these costs will be factored in into the alternative scheme, which is to be announced in place of DEPB.
The Annual Supplement is a step in the right direction in that it puts the right emphasis on the right sectors, Mr. Budhia said. The Policy rightly proposes that Indian exports should not just be country-specific. India should therefore diversify - both in terms of the number of products exported as well as in terms of the number of countries exported. This will lead to inclusion of many products where India has inherent strengths but needs an initial push in the right direction, Mr. Budhia said.
Mr. Budhia also welcomed the announcement that RBI is looking at making it mandatory to allocate 50% concessional credit to the Small and Medium Exporters who have been hit by the fluctuation of the Rupee.
The Annual Supplement 2007 to the Indian Foreign Trade Policy (2004-09) is a policy of a confident India. A clear indication of this is evident from the export target, which has been fixed at US$ 200 billion for 2008-09 from US$ 160 billion for 2007-08, Mr. Budhia said.
