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Oct 01, 2012, 12.42 PM IST
Government's recent push on the policy front is likely to benefit exporters. The department of commerce is likely to announce measures to boost exports in the next couple of weeks, reports CNBC-TV18's Rituparna Bhuyan quoting sources.
Government's recent push on the policy front is likely to benefit exporters. The department of commerce is likely to announce measures to boost exports in the next couple of weeks, reports CNBC-TV18’s Rituparna Bhuyan quoting sources.
Commerce ministry has told its finance counterpart that it is imperative to boost exports given the current situation both domestically as well as internationally. This is because as of now India’s current account deficit is at a level which is not very comfortable. One way of doing it, according to the commerce ministry, is by providing interest subvention on export related loans. We have been told that the commerce ministry has asked for interest subvention for sectors like auto, pharma and even leather and gems and jewelry as of now only SMEs enjoy this benefit. However, commerce ministry wants to extend this benefit even for bigger companies in these sectors. The commerce ministry believes that this additional outgo as a result of this decision will not be much. It would be within the budgeted limit that has been decided on by the finance ministry. So, there should not be any problem as far as the finance ministries budget allocation for these sectors is concerned. In addition to this one can also expect some decisions on new SEZ rules, about seven to eight important amendments are likely. One of them could be to reduce the minimum criteria for SEZs to make it more attractive to investors.
So, in the next couple of weeks we could see some measures from the department of commerce to boost trade and exports.
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