Commerce Minister Ananad Sharma will announce today the annual supplement to the Foreign Trade Policy, which is likely to include a much awaited incentive package for exporters. Sops including cash benefits for exporting specific products and targeting chosen markets and discount on interest rates are on the cards. New rules for Special Economic Zones including relaxation of the minimum area requirement could also be announced. Faced with declining exports and widening current account deficit, the Minister may also announce some steps to reduce transactions cost which is impacting the exporters. Exports have declined 4.86 per cent to 239.6 billion dollars during April-January compared to the same period a year ago.Ahead of the policy announcement, Mr Sharma held consultations with industry bodies like CII and FICCI to take their views on steps needed to boost exports that are hit hard by global slowdown. Industry chambers have raised concerns over issues of high interest rates and procedural hurdles.
News On AIR | April 18, 2013 8:27 AM
Annual supplement to Foreign Trade Policy to be announced today