Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Boost for India's exports.


Date: 08-06-2012
Subject: Boost for India's exports
As India's economy hits the downward slope, the country's commerce minister Anand Sharma announced new measures to boost exports. He unveiled a seven-point strategy on June 5 which includes the extension of an interest subsidy scheme till March 31 next year.

The incentives will add up to over Rs1,000 crores (S$23).

Said Mr Sharma: "We have now decided to extend the scheme (interest subvention) for another year till March 31, 2013, and expand its coverage to include other labour-intensive sectors; namely toys, sports goods, processed agricultural products and ready-made garments."

He said this while releasing the annual supplement to the foreign trade policy in New Delhi.

To promote manufactured exports of green technology products, export obligation under the export promotion capital goods scheme (EPCG) is being reduced for 16 products including solar cells, wind turbines, water treatment plants and electrically-operated vehicles.

To promote manufacturing activity and generate employment in India's north-eastern states, the government has also reduced export obligation under the scheme for exporters of those areas.

EPCG is a scheme under which an exporter can import a certain amount of capital goods at either zero or

3 per cent customs duty, for upgrading technology. However, exporters have to meet a pre-determined export obligation over a certain period to avail themselves of the scheme.

Exporters and those in the industry in India have hailed the trade policy supplement as timely and said it will help make Indian goods competitive in the world market.

Federation of Indian Export Organisations president M. Rafeeque Ahmed told the Business Line newspaper that in the wake of contraction of global demand and the Euro Zone crisis, the support extended was "tremendous" and will help in imparting competitiveness to exports.

Confederation of Indian Industry president Adi Godrej welcomed most of the measures and said: "All these measures would definitely give a boost to Indian exports and would help India achieve its export target of US$500 billion (S$641 billion) by 2013-14."

Chairman of the Apparel Export Promotion Council A. Sakthivel told The Telegraph the measures would significantly boost the textile sector. "The extension of 2 per cent interest subvention to ready-made garments up to March 31, 2013, is a relief to knitwear exporters as the bank interest rate has now gone up to between 11.5 per cent and 13.5 per cent," he said.

Source :  business.asiaone.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-12-2022
Notification No. 101/2022 - Customs (N.T.)
Exchange rate Notification No. 101/2022-Cus (NT) dated 01.12.2022-reg

Date: 01-12-2022
Notification No. 40/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude.

Date: 01-12-2022
Notification No. 41/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel.

Date: 30-11-2022
Notification No. 100/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 29-11-2022
No.98 /2022-Customs (N.T.)
Amendment of notification no. 47/2022–Customs (N.T.), dated the 31st May, 2022

Date: 29-11-2022
NOTIFICATION No. 99/2022-Customs (N.T.)
Amendment of notification number 48/2022-Customs (N.T.) dated the 31st May, 2022

Date: 25-11-2022
NOTIFICATION No. 61/2022-Customs
Seeks to amend certain specific FTA/PTA notifications.

Date: 23-11-2022
NOTIFICATIONNo. 23/2022 – Central Tax
Seeks to empower the Competition Commission of India to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022.

Date: 23-11-2022
NOTIFICATION No. 24/2022 – Central Tax
Seeks to make fourth amendment (2022) to CGST Rules with effect from 01.12.2022.

Date: 18-11-2022
Notification No. 58/2022-Customs
Seeks to amend Notification No. 27/2011- Customs, dated the 1st March, 2011 in order to withdrawal export duty on iron ore & steel products.



Exim Guru Copyright © 1999-2022 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001