INDIA: Deemed Export Committee Invites Suggestions from Stakeholders

The first meeting of the Committee to review the existing policy on Deemed Export was held this week. The meeting was attended by Dr. Alok Sheel, JS (MR) Department of Economic Affairs, Shri M.C. Singhi, Senior Economic Advisor, Department of Industrial Policy and Promotion, Dr. Arbind Prasad, Senior Advisor Planning Commission, Shri Chandan Sinha, Regional Director, Reserve Bank of India. It was chaired by Dr. Anup K. Pujari, Director General of Foreign Trade. 

The Committee deliberated on the terms of reference and decided to have meetings with stake holders. It was also decided to invite views / comments / suggestions for the consideration of the Committee. Stake holders are encouraged to write to the Committee by e-mail at [email protected] with subject heading: "Suggestions for the Committee on Deemed Exports". Such e-mails may kindly be sent to reach the Committee by 30th May, 2011. The Committee would also be meeting Shri B.K. Chaturvedi, Member of the Planning Commission and Dr. D. Subbarao Governor RBI for discussions. 

The Commerce and Industries Minister, Shri Anand Sharma had directed that Policy on Deemed Export Scheme be reviewed & accordingly had approved constitution of the Committee. The committee was constituted on 2.5.2011. The Chairperson of the Committee is Dr. Anup K. Pujari, DGFT. 

The distinguished Members are: Dr. Alok Sheel, (Ph.D. in Economics, Joint Secretary in Department of Economic Affairs dealing with G-20 Issues), Shri M.C. Singhi, Senior Economic Advisor in DIPP, Dr. Arbind Prasad (Ph.D. in Management from Yale University and has B.Tech. from IIT Kanpur, Senior Advisor in Planning Commission), Shri Najib Shah, (Joint Secretary (Drawback) Department of Revenue) and Shri Chandan Sinha, (Regional Director, RBI). 

The Committee has been mandated to look into (a) to harmonize various Customs Notifications with the Policy; (b) to improve the drafting of the policy to avoid multiple interpretations and to remove ambiguities, and (c) to revisit the issue of deemed export to see whether it properly reflects the Government priorities. 

The Committee is expected to give its report within 3 months. 

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Added: May 14, 2011 Source: Agencies
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