India extends export sops under revised trade policy

The government today announced a slew of measures, including extension of interest subsidy to more sectors, zero duty imports under export promotion capital goods (EPCG) scheme etc, to help exporters remain competitive amidst global uncertainties.

Presenting the annual review of foreign trade policy of the Government of India, minister of commerce, industry and textiles Anand Sharma also announced plans to revamp the schemes of Special Economic Zones (SEZ) and Export Oriented Units (EOU) in order to give a further boost to the country's exports.

The revised `Trade Policy 2009-14' extends interest subvention to most labour intensive sectors such as toys, sports goods, processed agricultural products and readymade garments etc, till 31 March 2013.

"We have now decided to extend the scheme for another year till March 2013 and expand its coverage to include other labour intensive sectors, namely, toys, sports goods, processed agricultural products and ready-made garments," Sharma said.

The government also extended the zero duty EPCG scheme by another year, to 31 March 2013, to ensure continued technological upgradation of the export sectors.

There is no change in the coverage of sectors benefiting from the zero duty EPCG scheme, Sharma said.