In yet another stimulus-cum-populist move, the government today announced the interim trade policy for the year FY10. Kamal Nath announced reduction in customs duty under the EPCG scheme from 5 per cent to 3 per cent.
Fixing an export target for fiscal FY10 at $200 bn, he said that exports had grown to $162 billion in 2008 and will touch $175 billion for FY09. The export sector created 14,00,000 new jobs this fiscal, he added. India had achieved a growth of 30.9 per cent till September this year.
Exports from India's special economic zones are expected to touch $18 billion in the year to March 2009, he said.
India is likely to suffer less, and recover fast from global crisis, he added .
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app