SEARCH

More sops for exports to targeted markets

Our Bureau
Comment   ·   print   ·  
Anand Sharma
Anand Sharma

Exporters may get additional incentives for selling products in targeted markets and have better access to dollar credit as part of the foreign trade policy to be announced next month.

“We will be looking at those markets where targeted exports can take place. The industry has rightly raised the issue of cost of credit, availability of credit and need for dollar credit window for manufacturing exports,” Commerce and Industry Minister Anand Sharma told reporters on Friday after his consultations with industry chamber FICCI.

Sharma is gathering inputs from various industry organisations and export promotion councils on the measures that could help exporters deal with the continued slowdown in world demand.

With the current account deficit assuming worrying proportions and with the Government not having many options to lower the country’s import bill, policy makers are looking for more ways to boost falling exports.

In fact, Finance Minister P. Chidambaram in his Budget speech promised that he would support measures to boost exports in the FTP.

Exports in April-January 2012-13 were down 4.86 per cent to $239.68 billion. A marginal increase of 0.01 per cent in overall imports to $406.85 billion pushed up trade deficit during the period to $167.16 billion compared with $154.89 billion in the previous year.

The Government announced two incentive packages to boost exports in the on-going fiscal, but contracting demand in the Western markets and lukewarm demand in large Asian countries have kept over-all exports in the negative zone.

amiti.sen@thehindu.co.in

(This article was published on March 8, 2013)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.

Comments:

This article is closed for comments.
Please Email the Editor
Today's Poll
Will the ban on 15-year-old vehicles affect second-hand market?
Yes
No
Can't say

The customer for financial services is changing. Are marketers keeping pace? »

Track your company

Follow us on...


Tweets @businessline

DATA BANK

Exchange Rate

Dollar Spot Forward Rate

Open-Ended Mutual Funds

MCX-SX Currency Futures

NSE Currency Futures


O
P
E
N

close

Recent Article in Industry

Winter Session Arun Jaitley arriving at Parliament on Thursday

Need to respect tax treaties, Govt to tell SIT

Ball in probe team’s court on India’s future approach to confidentiality clause »

Comments to: web.businessline@thehindu.co.in. Copyright © 2014, The Hindu Business Line.