Centre announces sops worth 1052 crore rupees for exporters

The government extended sops to exporters worth 1052 crore rupees in sectors like capital goods and textiles to help them mitigate the impact of fragile recovery of global economy. Announcing the annual Foreign Trade Policy in New Delhi, the Commerce and Industry Minister Anand Sharma said that the interest subsidy of two per cent is extended to textiles, jute, leather and engineering goods sectors. Currently, the scheme is for sectors like handicrafts, handlooms, carpets and small and medium enterprises. Aiming to provide some relief to exporters hurt by global slowdown, Mr. Sharma announced extending DEPB (Duty Entitlement Pass Book) scheme for six months or till June 30, 2011. Under this scheme, the government reimburses duties on imported inputs used in exports. He also announced extension of zero duty EPCG (Export Promotion for Capital Goods) and Status Holders Incentive scheme for one more year that is till March 31, 2011. Mr. Sharma said, the export target of 200 billion dollar will be achieved in this fiscal .He expressed hope that 25 percent growth in exports will be achieved by 2014. He said that SEZs are also doing well and they registered an impressive 67 percent growth in the first quarter of the current fiscal. On the issue of WTO, the Minister said, India remained committed to successful completion of Doha round of WTO talks. He noted that the efforts were continuing to cut down the export transaction costs and discussions were on for various trade agreements with Malaysia, Japan, European Union and Asean nations.

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