Government on Thursday announced a series of measures to boost exports in this year’s Foreign Trade Policy. Commerce Minister Anand Sharma extended tax holiday and duty refund for exporters.
The government also allowed duty free capital goods import to insulate them from protectionism. The Commerce Minister set the target of export of US$ 200 Billion in the next fiscal.
Income tax holiday for export units is extended for one more year and continuance of duty refund scheme is extended till December next year.
Mr. Sharma said the objective of the policy will be to arrest and reverse the declining trend of exports.
During the past ten months exports have declined and last year. India exported products worth 168 Billion US Dollars against the set target of 200 Billion dollars.
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