Centre extends sops for exporters to continue in global economic scenario

NEW DELHI - The Central Government on Monday extended sops worth Rs 1,052 crore to exporters, particularly for the labour-intensive textile, handicrafts and leather sectors, to help them mitigate the impact of fragile recovery of global economy.

“We are not yet out of the woods. The recovery in global economy so far has been fragile and uneven. The revenue implication of these measures would be Rs 1,052 crore,” said Union Commerce and Industry Minister Anand Sharma, announcing the annual Foreign Trade Policy 2009-14.

“Recognising the fragile recovery and the prevailing uncertainties (in the global markets), I have been able to obtain extension of Duty Entitlement Pass Book (DEPB) one last time for a further period of six months till June 30, 2011,” he added.

Under this scheme, the government reimburses duties on imported inputs used in exports.

Anand Sharma also announced extension of zero duty EPCG (Export Promotion for Capital Goods) and Status Holders Incentive scheme for one more year that is till March 31, 2011.

“The export target of 200 billion dollar will be achieved in this fiscal and expressed hope that 25 percent growth in exports will be achieved by 2014. The SEZs are also doing well and they registered an impressive 67 percent growth in the first quarter of the current fiscal,” said Sharma.

“India remained committed to successful completion of Doha round of WTO talks,” he added noting that the efforts were continuing to cut down the export transaction costs and discussions were on for various trade agreements with Malaysia, Japan, European Union and Asean nations. (ANI)