Our Bureau New Delhi, Apr 3
The Government will announce the annual supplement to the Foreign Trade Policy, which will include a much awaited incentive package for exporters, on April 18, Commerce and Industry Minister Anand Sharma has confirmed.
Sharma assured industry representatives at the CII annual general meeting on Wednesday that the policy, delayed by about two weeks, would be out on April 18 as he has already had detailed discussions on it with Finance Minister P. Chidambaram.
The Minister had indicated last month that the FTP would be announced by April 3 after he met the Board of Trade to discuss the finer points of the policy. With both Sharma and the Finance Minister travelling abroad, the policy could not be finalised on time. Since Sharma would leave on the week-end for Germany, exporters are looking forward to more sops to help them retain their competitiveness in the global market that is yet to emerge from the slow-down.
Sops including cash benefits for exporting specific products and targeting chosen markets and discount on interest rates are on the cards. New rules for Special Economic Zones including relaxation of the minimum area requirement could also be announced.
(Source: The Hindu Businessline)