Fresh sops likely for leather, engg, textile cos
The government may announce next month fresh sops for select labour-intensive exports sectors such as textile, leather and engineering goods that have not benefited substantially from the incentive packages announced earlier, to help the industry cope with the global slowdown.
"The sectoral reviews have been completed, and the recommendations should be coming to us. We will be discussing with stakeholders and see what is required to be done particularly for sectors which continue to remain in the red," commerce and industry minister Anand Sharma told reporters on the sidelines of a CII function on Wednesday.
The commerce department is analysing the results of a study on the impact of the incentives given to exporters so far on individual sectors.
Sops like interest subsidy on loans and incentives to explore new markets have already been given to exporters in different packages over the last year. The idea behind the exercise is to identify sectors which needs continued support from the government to deal with the global demand crunch.
The minister said that the new sops would be announced by the first week of January. Exports turned positive in November this year posting a growth of 18% to touch $ 13.2 billion after falling for 13 straight months, The minister said that the growth, which took place despite the slowdown in the Western markets, was satisfactory.
"We can say that exports are stabilising. There has been a growth in figures over the last year. We will move to positive growth terrain in the last quarter of this fiscal,"he said
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