WHY AN ANNUAL POLICY ?
ENABLES QUICK RESPONSE TO CHANGING
SITUATIONS
"A frequently
asked question is the need for an Annual Exim Policy when a five
year Policy has been announced and is in place. The basic objective
of a Five-Year Policy is two fold. It reflects the priorities
for development of the economy as set out in the Five Year Plan.
It also provides a stable policy environment to the exporters.
This is essential for our objective of making India a significant
player in the world market. However, today international trade
is not only highly competitive but also dynamic. Market conditions
change almost daily requiring quick response and more importantly,
anticipation. Five year is too long a period of a Policy to continue
without refinements. Therefore, it is imperative that we frame
annual Exim Policies after assessment of the export performance
and changes in the international market in the previous year and
based on our anticipation of market movements in the short term",
Shri Arun Jaitley, Minister of Commerce & Industry and Law
& Justice, said while announcing the EXIM Policy here today.
