Government has announced a package of over 900 crore rupees to boost exports. It
also aims at minimising the impact of financial meltdown in US and European
markets on Indian economy. Announcing a slew of measures in the annual
supplement of the Foreign Trade Policy, 2009-2014 in New Delhi, Commerce and
Industry Minister Anand Sharma said that the focus is to tap new markets.
Special markets identified in Latin America, Africa and CIS Countries will
remain in focus. To encourage exports for these markets, shipments will get an
additional one per cent duty credit. With this the total credit on exports in
these countries will go up to four percent.
He also announced launching of the Niryat bandhu scheme with an aim to encourage new and young entrepreneurs in export business. Giving details of the growth in export sector, Mr. Sharma said that they are poised to reach 500 billion US dollars by 2014.
He also announced launching of the Niryat bandhu scheme with an aim to encourage new and young entrepreneurs in export business. Giving details of the growth in export sector, Mr. Sharma said that they are poised to reach 500 billion US dollars by 2014.
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