Commerce ministry to offer Rs.450-500 cr to boost exports
January 12th, 2010 - 8:11 pm ICT by IANSNew Delhi, Jan 12 (IANS) Commerce Minister Anand Sharma Tuesday said his ministry would offer Rs.450-500 crore as incentives to push exports of 2,000 products till this fiscal-end.
“We will raise Rs.450-500 crore through our internal budget for providing stimulus to about 2,000 export products which have failed to revive,” Sharma told reporters here, adding: “We will not ask for financial assistance from the finance ministry.”
Sharma, who had Jan 7 said he was pushing for stimulus for the export sector in the annual budget, also announced that the government would target markets in Japan and China.
Director General of Foreign Trade R.S. Gujral said the scheme would continue next financial year, but clarified that the Rs.450-500 crore that the commerce ministry would raise would be given for only the three months till the end of this fiscal.
India’s exports rose 9 percent to $14.6 billion (Rs.73,000 crore) in December, up from $13.2 billion (Rs.66,000 crore) in November, when exports rose 18.2 percent after 13 straight months of decline.
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Tags: anand sharma, commerce minister, commerce ministry, cr, crore, decline, director general of foreign trade, export products, export sector, finance ministry, financial assistance, gujral, incentives, India, internal budget, jan 7, japan, New Delhi, stimulus, three months
