Exporters may get more relief in coming months: MinisterMarch 11th, 2008 - 7:54 pm ICT by admin
New Delhi, March 11 (IANS) Commerce and Industry Minister Kamal Nath Tuesday hinted that the government would provide more concessions to the exporters who have been adversely affected by the rupee appreciation in the last one-year. The relief measures, that include some new schemes, might be announced in the upcoming foreign trade policy for 2008-09, which would be released early next month.
“We are looking at measures which are WTO (World Trade Organisation) compatible and can neutralise levies which are not being refunded at the moment,” said the minister.
The government set an export target of $160 billion for 2007-08. However, the appreciation of the rupee by about 11 percent in the last 10-11 months hit the exporters, especially in the textile, handicrafts and leather sectors, which also faced huge job losses.
The minister indicated that the government might miss the target and at best achieve a level of $155 billion in exports.