SINGAPORE: The main thrust of Indian’s new economic policy will be to slash procedures and develop exports substantially, Indian Commerce Minister Arun Nehru said here Thursday.
During a brief stopover on his way to Jakarta to inaugurate the Indian trade exhibition there, the minister said that there would be “a great deal of continuity” in the government’s foreign investment policy.
While there would not be many changes from the previous government decisions of foreign investments, his government would make some changes to steam line the structure, he said.
He called on foreign investors to take advantage of the enormous potential that exists in India for Joint ventures.
Since the government major objective is to strengthen further exploits it has already taken several measures to simplify procedural matters, he said.
India’s exports amounted to 280 billion rupees last year while they increased some 40 percent during the past six months, the minister said.
The government would also intensify efforts to develop infrastructure such as technology, machinery and other related fields with a view to encourage productivity, the minister added.
Article extracted from this publication >> February 2, 1990
