The government today announced export incentives for over 2,000 items worth a total Rs500 crore and aggressively targeting the big markets of Japan and China.
The new series of incentives for exporters announced by commerce and industry minister Anand Sharma today, has included new products under the Focus Product Scheme (FPS).
The FPS has added 112 new products, making them eligible for benefits at the rate of 2 per cent of FOB value of exports to all markets.
Major sectors included in the FPS are engineering, electronics, rubber, chemicals, plastics, carton boxes and egg powder.
Another 113 new products have been given higher benefits at 5 per cent of FOB value of exports under special FPS on exports to all markets.
Major sectors under the special FPS include hand tools, parts of agriculture and horticulture machinery, sewing machines and parts, liquid pumps, nuts, bolts, washers, screws, staplers, and parts of machinery for soldering, brazing and welding.