ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Shift to Exports

Shift to Exports THE new economic policies are likely to take time to yield results, as the author of the policies, finance minister Manmohan Singh, has himself said. But they appear to be bearing fruit in regard to corporate investments, inasmuch as these are being geared by managements of companies for expanding exports. In a way the thrust on exports has become necessary since the companies have to fend for themselves in respect of their foreign exchange requirements not only for expansion and diversification but also for their existing business. Expansion and modernisation have brought upon the companies the obligation under the new policies to. source import of technology and equipment with direct foreign investment with a commitment of export of the goods produced. In meeting raw material requirements of existing businesses as well, companies are now called to export and earn exchange or to buy the foreign exchange at the free market rate, following the rupee being made partially convertible.

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