Trade policy measures to boost exports: Anand Sharma

Even as Indian exports increased over 50% in the first six months of this fiscal, the Commerce Ministry today announced a series of standard operating procedures (SOPs) for exporters. The SOPs were aimed at giving Indian exporters an extra edge over their competitors in traditional as well as new markets overseas.

The commerce ministry announced two new schemes that will give exporters duty credit on 1 % of freight on board value of exports. The Special Focus Product Scheme that gives 2 % duty credit has been expanded by including 130 items. The export SOPs were announced in the backdrop of expiry of the popular DEPB scheme. The measures announced today will cost the exchequer and additional Rs 1300 crore.  Commerce Minister Anand Sharma, in an interview to CNBC-TV18