New Delhi Government on March 31 unveiled the new Exim Policy, which gives a massive thrust to services, exports, removal of restrictions on exports and makes EPCG (Export Promotion Capital Goods) scheme more flexible.

The policy announced by Commerce Minister Arun Jaitely aimed at further consolidation of Agri-export zones apart from giving special focus on potential high growth sectors.

Aiming one per cent share in the world trade, the new Exim policy would give maximum thrust to services like healthcare, entertainment, professional services and tourism.

Jaitley said export of five items had been made free in a bid to attain $ 80 billion worth exports by 2007.

The EPCG scheme would be made more "flexible and attractive" to enable expansion of manufacturing base, especially benefiting the small scale sector.

Citing the export potential in areas like textiles, auto components, gems and jewellery, drugs and pharmaceuticals and electronic hardware, the new policy said, "special focus would be given on these sectors".

Facilitating corporate investment in agriculture and to boost exports and benefit farmers, the Exim Policy for 2003-04 said Duty Entitlement Pass Book (DEPB) rates for the agro products would factor in costs of input.

For the first time, Centre would bring in "simultaneous" notifications by Director General of Foreign Trade and the Central Board of Excise and Customs in order to avoid delay in this regard.

These notifications, pertaining to duties, come in the wake on an assurance from the Finance Ministry. In the past, notifications were usually delayed by three to six months putting exporters into difficulty.

As part of measures to facilitate investments in the Special Economic Zone (SEZs), the new policy suggested the "codification of SEZ rules".

Seeking development of export clusters, the Exim policy would cover 10 new clusters with "sizeable" export potential.

The policy also suggested incentives for fast-growing "status holders".

PTI