October 15, 2011 7:00 PM

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Centre adopts multi pronged strategy to support export sector

Centre has adopted multi pronged strategy to support export sector badly hit by economic crisis. This was revealed by Union Commerce and Textile Minister Anand Sharma in New Delhi.Talking to reporters, Mr. Sharma said that government will provide two percent duty credit to the textile sector exporting to United States and European countries.He added that government has allowed 130 new items including handicrafts, chemicals in Market Linked Focus Product Schemes, MLFPS for exports.However, he clarified that readymade garments will not be included in MLFPS.The Commerce Minister also said that government is encouraging technological up gradation and reduction in transaction costs for exports. He added that government is taking effective measures to consolidate the position of traditionally strong sectors along with focus on emerging sectors.

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