Home / Knowledge / News / Textiles / Govt announces incentives on select exports

Govt announces incentives on select exports

20
Jan '10
In a bid to improve exports from dwindling sectors and to maintain their positive growth rate, a stimulus of Rs. 5 billion has been offered by the government to select exports; along with which, incentives have also been announced for exports to China and Japan in order to promote exports to these countries.

The sectors, including cotton-woven fabrics, auto components, engineering products, electronic goods, chemicals were offered the stimulus. Commerce and Industry Minister Mr. Anand Sharma announced the expansion of Focused Product Scheme (FPS) and special FPS by including 225 new products.

Under the FPS, exporters would avail an incentive of 2 to 3 percent. Besides, they are also receiving extra benefits under the Market-linked Focused Program, in which China and Japan have been included.

In this regard, Mr. Sharma expects to achieve improved growth rate in the last quarter (January-March) of ongoing financial year, against the growth that was anticipated in the month of August, when the foreign trade policy was announced.
Handicraft exports would receive additional support to establish ware-houses in Latin America by the Export Promotion Council for Handicrafts, under the Market Access Initiative Scheme.

Moreover, Commerce and Industry Ministry had proposed the Finance Ministry to continue the 2 percent interest subvention for labour-intensive sectors and urged to cut down the interest rate for dollar credit in order to bring it to the level of international rates.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 15th May 2021

Australian govt earmarks Au$1 mn for boosting fashion industry

The government of Australia has earmarked Au$1 million to promote and ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 15th May 2021

Prime Content| US textiles & apparel imports grow 4.32% in Q1 2021

The import of textiles and apparel by the United States increased by...

Pic: Amanda Wakeley

Fashion | On 15th May 2021

British luxury fashion company Amanda Wakeley enters administration

The British luxury fashion designer Amanda Wakeley’s company, AW...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Vikram Juneja,

Vikram Juneja

Jaquard is a training institute providing a highly specialised training...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search