Public CompanyExports sops may continue till global economy turns around
The government today indicated it will continue sops for Indian exporters who have seen a sharp contraction in orders since October last year.
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"If we continue with the polices in terms of assisting exporters... As long as we see those numbers climbing every month in an environment around the world where output and trade is shrinking, I think this is reassuring sign," Minister of State for Commerce and Industry Jyotiraditya Scindia said on the sidelines of a CII function here.
Though exports shrank by 31.3 per cent in the first quarter of the current fiscal over a year ago period, the shipments have been increasing by value on sequential basis from April through June.
The export cargo was valued at $10.74 billion, $11.01 billion and $12.81 billion in April, May and June, respectively, according to the official data.
The five-year Foreign Trade Policy, to be unveiled on August 27, is expected to give incentives to Indian exporters to widen their global markets beyond the US, the EU and Japan in the face of the economic crisis in these key destinations.
Commerce and Industry Minister Anand Sharma had said yesterday that the trade policy statement would incentivise exporters who look beyond the US, EU and Japan.