India Policy Adjustment Supports High Growth Rate Of Garment Export

In addition to labor-intensive industries such as carpets, handicrafts, handloom and small and medium-sized businesses, today,

Minister Anand Sharma extended the incentive measures to the clothing department of India.

In announcing the annual supplement to foreign trade policy, he said: "we have decided to

The subsidy scheme is extended for another year until March 31, 2013. "

In addition to industries eligible for interest subsidy schemes last year, more industries will benefit from this plan, such as

Toys, sporting goods and processed agricultural products.

According to the interest subsidy scheme announced last year, carpet, handicrafts, handloom and small and medium-sized enterprises received 2% interest subsidy.

Mr. Sharma is optimistic that with the help of these measures, India's exports will be able to maintain a 20% growth rate.

In the 2010-11 fiscal year, India's exports increased by 21% to 303 billion US dollars.

Among other measures he announced,

It will help to reduce paction costs and enter the advanced stage of negotiations with the EU's comprehensive trade agreement, and the zero tariff capital goods export plan will be extended for another year.

He also said that India is currently in talks with Australia, New Zealand and Canada on the free trade agreement, with a special focus on promoting exports from North East India, and extending the US and EU export incentives to March 31, 2013.

He also said that the Ministry of commerce is drafting new guidelines for the special economic zone (SEZs).