New Delhi, Dec 23 (Inditop.com) Commerce Secretary Rahul Khullar Wednesday hinted at withdrawal of sops and subsidies offered to the export sector in the light of encouraging November trends.
“Some sectors have recovered over the period and fared pretty well in November. I think we could look at withdrawing the subsidies to some sectors,” Khullar told reporters here.
The secretary was also of the view that the government should not provide subsidies to exporters and other sectors as it cannot sustain it.
“Don’t give subsidy or incentives if you cannot sustain (it).”
Exports grew 18.2 percent in November compared to the corresponding month last year.
During April-November, the country’s exports were valued at $104.2 billion as against $134.2 bilion over like period last fiscal, registering a decline of 22.3 percent.
Sectors which registered positive growth were petroleum products (83.6 percent); iron ore (47.2 percent); gems and jewellery (40.4 percent); marine products (27.3 percent); leather goods (16.2 percent); spices (13.5 percent); electronic goods (11.7 percent); drug and fine chemicals (8.7 percent); engineering goods (6.8 percent) and tobacco (5.6 percent).
