After much discussions good sense has prevailed and the government rightly decided to extend the Duty Entitlement Pass Book scheme (DEPB) scheme by a year. And I have no doubt in my mind that the decision will be a shot in the arm for the exim community. The scheme, which, in my opinion is the most popular export-promotion tool will have to be replaced, if at all, by an alternate export window. And the government has to take into account the exporters' views before DEPB is replaced.

The extension will now help exporters in negotiating long-term contracts but I feel that even if a replacement is found, the two schemes should run concurrently for at least six months after the replacement is introduced.

I am in favour of a scheme that would be compatible with all norms of the World Trade Organization (WTO). At the end of the day, it will be the exim community which would be at the receiving end. So any change in the scheme has to benefit the exporters. Till then the DEPB should be allowed to continue.

Monthly Economic & Commercial Report on Tanzania for quarter ending January 2006 giving latest updates on developments directly affecting India's foreign trade and investment. Read More...

Sugar production is expected to rise by 40 percent to 18.17 million tonne in 2005-06 compared to 12.1 million tonne in 2004-05 even as e xports during the previous four years averaged 4.5 million tonne.  Read more...