Government to announce export incentives soon: Anand Sharma

The government is coming out with a fresh package of incentives for exporters for the current financial year amidst concerns over high interest rates and withdrawal of some export sops by the government.

The Board of Trade will meet on 11 October to finalise the proposed measures to boost the country's exports, commerce and industry minister Anand Sharma said during an interaction with FIEO and other export promotion bodies in New Delhi today.

"The purpose of today's consultation is to conclude the process which DGFT and the commerce secretary have been doing throughout the year, and I thought that before we come out with the export incentives for the current financial year we must have this brainstorming exercise," Sharma said.

"On 11th October 2011, I am convening the meeting of the Board of Trade after that we will announce the incentives for this year," he added.

Exporters in general have expressed concern over the sharp cut back in the drawback rates for most export items at a time when world demand is slowing down and the exchange rate has turned volatile.

This, they pointed out, will have considerable impact in slowing down exports. The high growth rates witnessed during the first two quarters was because the exporters wanted to utilise the benefit of the DEPB scheme, they pointed out.