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7-point strategy to boost exports which include extension of interest subsidy scheme

The government unveiled 7-point strategy to boost exports which include extension of interest subsidy scheme by one year till 31st March 2013.

India's exports grew by 21 percent in 2011-12 to touch USD 303 billion.

To encourage exports, the government came out with an interest subvention scheme under which 2 percent interest subsidy was given to handlooms, handicrafts, carpets and SME sector.

The scheme, which has been extended by a year, was to end on 31st March 2012.

The EPCG scheme will also be available for those who had surrendered their benefits under the Status Holder Incentive Scrip (SHIS) scheme.

Following are the highlights of the supplementary annual Foreign Trade Policy:

* Government aiming 20 pc export growth in 2012-13 * 2pc interest subsidy scheme extended till March 2013

* 0% duty EPCG scheme for technology upgradation extended till March'13

* Incentives for exports from north-eastern states

* Shipments from Delhi, Mumbai through post, courier or e-commerce to get export benefits

* Single revolving bank guarantee for different export deals

* Seven new markets added to Focus Market Scheme

* Market linked focus product scheme extended till March'13 for apparel export to USA and EU

* Ahmedabad, Kolhapur and Shaharanpur new Towns of Export Excellence

* Govt to come out with new guidelines to promote SEZs

* Focus on market diversification to continue the steps announced to reduce transaction cost of exports

* Foreign Trade Policy document made more user friendly

* 13 shows abroad to promote Brand India.



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