The government continues to extend a helping hand to exporters. Announcing the annual foreign trade policy on Monday, Commerce Minister Anand Sharma said that the recovery in exports has been fragile at best and that it would be prudent to persevere with last year's policy stance.
In keeping with this view, the minister has announced the introduction of a bonus scheme for handicrafts and leather.
Govt extends export sops to struggling sectors
“Abrupt withdrawal can be very hurtful for those sectors that are labour intensive, where the demand has not returned and which continue to do badly. That is why we have retained the support or intensive for such sectors bringing in more the embrace of more incentive schemes which need intervention and support. Along with adding to what was being given earlier in the form of a new scheme where 2% additional bonus has been given to some sectors including handicrafts, handloom, many of the engineering projects as well as the textile and the leather industry.
The minister also announced that the Duty Entitlement Pass Book (DEPB) and Export Promotion for Capital Goods (EPCG) schemes would be extended to March 2012
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