The count down begins ! Government to announce the new Foreign Trade Policy on 7th April 2006 , As per Union Minister for Commerce and Industry Kamal Nath would focus mainly on attracting Foreign Direct Investments (FDIs) and generating employment for the youth.

The Minister said he was optimistic of a 75 per cent growth in FDI and was also expecting the exports to touch 100 billion dollar mark after the new policy came into effect.

“Our Foreign Trade policy, which was re-oriented two years ago, has been changed from a mere dollar-generating orientation to one which has thrust on employment generation and increase in overall economic activity,” said Kamal Nath.

“Employment generation, especially for the youth and attracting FDIs will be the main focus of the new Foreign Trade policy which will be annnounced on April 7,” he said.

The minister was in the city to attend a function at Ahmedabad Management Association (AMA) and give away the AMA-Atlas Dyechem Outstanding Entrepreneur of the Year Award-2006.

“During the past two years, our FDI inflows have shown a remarkable growth,” Kamal Nath said, adding that the FDIs in India were largely “domestic market driven”.

Talking about the new policy, the Minister said, “This year we are expecting a 75 percent growth in FDIs as compared to last year”.

“Our exports have also shown an unprecedented growth of 26 percent in the last two years,” he said. “This year we will touch 100 billion dollars in exports,” Kamal Nath added.

Popularity: 1% [?]