The Commerce Ministry on Friday announced new incentives worth Rs 500 crore to exporters of certain items to help them tide over the uneven global economic recovery including problems in Europe as well as the rising interest rate situation.

These incentives have been given for 617 products, including from industries such as engineering, electronics, stationery, textile, handmade carpets, chemicals, paper, rubber, plastics, leather, castor oil, coffee, tractors, bulk containers and fabrics.

Announcing the sops, the Commerce and Industry Minister, Mr Anand Sharma said, “The situation in Europe is uncertain and the recovery process is weak. This is posing a challenge to our exporters.”

However, he said the goods export target of $200 billion for 2010-11 would be met. “We are well under way to achieve the export target and may even cross it,” he added.

The benefits of 2 per cent of the free-on-board value of exports under the Market Linked Focus Product Scheme (MLFPS) have been given to 335 new products for exports to 15 markets including Egypt, South Africa, Brazil, Australia, China and Japan.

The Commerce Secretary, Dr Rahul Khullar, said around 80 per cent of the incentivised products offered belong to the manufacturing sector.

In a bid to provide assurance about the quality of Indian pharmaceutical products to importers, the Government also said exporters of pharmaceutical products will be required to affix barcodes on their export products, with effect from July 1, as per global standards, to facilitate tracing and tracking of their products.

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