The government introduÂced some promotion scheÂmes and incentives for the exporters to tap new markets. ReleÂasing the annual supplement to the Foreign Trade Policy 2009-2014, Commerce and Industry Minister Anand Sharma set a target of achiÂeving 20 per cent growth in exports this fiscal.
In the annual supplement, a two per cent interest subvention for labour-intensive sectors and the Export Promotion Capital Goods (EPCG) scheme were extended by a year and their coverage widened.
The policy gives a thrust to employment creation, encourages domestic manufactuÂring, reduces dependence on imports, helps market diverÂsification and cuts transaction costs for exporters, Sharma said. He added that the ministry would issue new guidelines for promoting exports from Special Economic Zones (SEZs). SEZs have been instrumental in providing infrastructure for export promotions.
The government also proposes to announce a revamped 100 per cent export-oriented unit (EoU) scheme.
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