"I am happy with the non-commerce part of the Budget. However there was nothing for the exporters to cheer about." This was disclosed by Union Commerce Minister Mr Kamal Nath in a chit chat with tradeindia.com in the sidelines of the the inaugural function of Tex Styles India 2008 fair at Pragati Maidan in the city on Sunday.

Mr Nath said that the appreciating rupee was eating into the profits of the exporters and certain initiatives were required in the Budget, which didn't come.

Both the Rangarajan and Krishnamurthy Committee had made certain recommendations —
including several fiscal and other measures to address the trouble of exporters especially in the textile, handicraft and leather sectors — seeking relief for the exporters before the Budget. These two expert committees were earlier appointed by the prime minister.

However the Commerce Minister has said that he is working on ways to provide relief to the exporters, in the annual review of the Foreign Trade Policy, due by the month end.

"I assure the exporters that the annual supplement will try and address many of the concerns of the exporters," he added.

Media reports have also said that Mr Nath will soon meet Prime Minister Manmohan Singh and seek fiscal relief for exporters distressed by rupee appreciation.

Ms. Akash Menon

(Tradeindia Expert)

M/S Menon Exports and Designing Ltd.

MD, M/S Menon Exports and Designing Ltd.
New Delhi, India