New Delhi, July 23 (Inditop.com) The government will announce more sops for the slowdown-hit exports sector in the export-import policy (Exim) for 2009-10, which will be released next month, Commerce and Industry Minister Anand Sharma said here Thursday.
“There will be certain measures. We are aware of the difficulties of the exporters and will try our best to extend the support and sops,” Sharma told reporters on the sidelines of a business meet.
“We will be meeting the sectoral representatives this week. Rest you will see when the policy will come.”
The minister added that his department was in talks with “the finance ministry to address the problems faced by the exporting community”.
Last week Sharma had said India’s new foreign trade policy would focus on diversifying the country’s merchandise exports to untapped markets.
“We will look at diversification,” Sharma told reporters here after a meeting with industry representatives.
He said the new trade policy would contain a mix of fiscal incentives as well as simplification of procedures. The government may announce some new measures as well.
The minister has also met representatives of the Federation of Indian Export Organisations (FIEO), export promotion councils and leading exporters as part of the deliberations ahead of announcing the policy.
India’s merchandise exports are continuing to decline since October last year – down 33.2 percent at $10.74 billion in April, and 29.2 percent lower at $11.01 billion in May.
Apart from promotional schemes, the government will also work on simplifying procedures for carrying out foreign trade in a bid to save costs and time, Sharma added.
