India announces fresh sops to boost exports
26 Dec 2012
The government today announced an extension of incentives to exporters amidst sagging exports, which showed an increase just once in the past nine months as overseas demand slowed.
India's trade deficit has mounted with imports continuing to rise due to high commodity prices and a weaker rupee.
Minister of commerce, industry and textiles Anand Sharma today announced an extension of the 2 per cent interest subsidy for some items of exports until March 2014.
The minister also announced an extension of other export incentives that are linked to markets and products as part of the measured aimed at boosting the country's exports.
Speaking to media in New Delhi today, Sharma said the 2 per cent interest subvention scheme on rupee export credit, which is available to certain specific sectors such as handicrafts, carpets, handloom, readymade garments, processed agriculture products, sports goods and toys, will now be available till 31 March 2014.
The scheme was scheduled to end on 31 March 2013.