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Friends
This medium is a very good medium to keep in touch with all of you. Initially, I had thought that I will communicate through this electronic medium every month. But later thought that I would be overdoing this and felt that it would be better to communicate every quarter. However, you are welcome to write to me or the Council on any issue effecting our exports.
We have entered our new financial year this month and all of you must have firmed up you business plans including exports. I am sure that you will enhance your efforts to achieve a good growth rate in plastics exports despite the adverse situations that we are exposed to. We had set a target of about 3.8 billion US Dollars for 2007-2008 but I have my own doubts whether we will be able to achieve the same. As per the returns filed by members we have achieved exports of about 2.2 billion US Dollars up to December 2007 registering a growth of about 4%. Our exports to the top two trading partners - China & USA - have both registered a hefty negative growth rate. I am particularly concerned about the down trend in exports to USA which is more of a value-added importer from India and will be too glad to receive your suggestions in the matter.
We did complete a good number of export promotion activities last year and have planned quite a number of them for this year. We are particularly trying to organise a large participation in Canton Fair in October this year which is primarily for the consumer item manufacturers. I would once again like to emphasise here that your participation and involvement in both evolving and implementing the export promotion activities is a must. After all, all our efforts must end up with fruitful benefits to the exporting community. The MAI Project of launching a display centre which we are thinking of naming as "Indian Plastics Trade Center" (your suggestions are most welcome on this issue) in or around Los Angeles area for plastic onsumer items is also due for implementation this year.
The Honourable Commerce & Industry Minister Mr Kamal Nath released the Annual Supplement to the Foreign Trade Policy last month and has announce quite a number of welcome initiatives. DEPB has been extended further till 2009. He has announced an innovative "Market Linked Focus Product" scheme. This scheme essentially aims at issuing a duty credit scrip of 1.25% for a product in a market where our share is very low. In fact the Council has been asked to give its recommendations and I shall be too glad to receive your inputs in this regard.
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