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Exporters, industry welcome Foreign Trade Policy incentives

Govt unveiled a 7-point strategy to boost exports, including extension of interest subsidy scheme by 1 year

Press Trust of India  |  New Delhi 

India Inc and today said measures announced in the Foreign Trade Policy would help in sustaining growth momentum amid global uncertainties.

"We welcome the FTP announcements. The policy will help exports a lot during the time when there is economic problem in the US and European markets," President R V Kanoria said.

The government today unveiled a seven-point strategy to boost exports, which includes extension of by one year till March 31, 2013. It also exuded confidence that India would be able to sustain 20% growth in the current fiscal.

Federation of Indian Organisations (FIEO) President Rafeeq Ahmed said the measures would have a lasting and positive impact on the country's trade.


"The announcements have exceeded our expectations. Labour-intensive sectors like textiles have been the thrust area of the FTP. We welcome the steps," Ahmed added.

Apparel Promotion Council Chairman A Sakthivel said the measures would give a huge boost to textiles sector.

"During the times of global slowdown, the incentives announced in the FTP would further help in increasing engineering exports," Engineering Promotion Council (EEPC) Chairman Aman Chadha said.

India's exports touched $303.7 billion in 2011-12, registering 21% expansion.

First Published: Tue, June 05 2012. 16:11 IST
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