Measures have been announced with the view of improving Foreign Trade policy midst an environment of global uncertainties. Commerce Ministry has a five year plan drawn out. India's export grew 21% in 2011-12,up to 303.7 billion dollars.To make bigger export targets, the ministry will be making more concessions.There is an interest subvention scheme (which had ended in March 2012), but it will be extended to another year;2% interest subsidy will be given to industry till March 2013.Now, the benefits under Technology Up gradation Fund Scheme(TUFS) or Status Holder Incentive Scheme (SHIS) which have not been avialed can be taken to another business of the same company.SHIS will allow imports of capital goods for technology.Domestic manufacturer can import capital goods at zero duty.For procurement of goods now,the Utilization certificates for importing will be duty free and transferable.The extension of 2% interest subsidy will be for coverage for labor incentive sectors like toys, sports goods agricultural products and garments and so on.Even green products will be covered.Green technology products will extended to cover sixteen new products like solar cells, wind turbines, water treatment plants and electronically controlled vehicles and so on. This will give a boost to the green products industry.Market diversification schemes like Focus Market Scheme(FMS) seven new markets have been added; they are markets of Austria, Myanmar, Netherlands, Ukraine, Morocco and Uruguay.Under Market Access Schemes, buyer seller meets will be organized, and exhibitions arranged. To ensure connectivity, exporters will need not make requests to banks for Bank Export Realization Certificate. So many any incentives have been announced. We are ready to export, so is the world ready to buy?
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