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The Centre is considering providing transport subsidy to States to promote agriculture exports, Commerce & Industry Minister Suresh Prabhu said.
The issue was discussed with the representatives of States, including Karnataka, Arunachal Pradesh, Uttar Pradesh, Assam, Nagaland, Tamil Nadu and Punjab, who participated in the meeting of the Council for Trade Development and Promotion here on Thursday.
Lending to exporters
While the World Trade Organization does not allow subsidies for farm exports, developing countries like India can provide subsidies to exporters for transport and marketing purposes.
Speaking to the media after the meeting, Prabhu said the Commerce Ministry was also in talks with the Finance Ministry on increasing lending to exporters and the Financial Services Secretary will soon hold a meeting with banks on the issue.
Trade with Iran
On India’s continued trade with Iran, which is under economic sanctions from the US, the Minister said that India had decided to work with Iran without violating the international laws.
“India will not violate any international law and within the framework of international law, we would like to work with Iran in a manner that we can deal with rupee trade wherein both countries can trade the items of mutual interest,” he said.
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