New Foreign Trade Policy likely to lack new incentives
The new foreign trade policy to be announced shortly may not carry new incentive schemes for the exporters.
The Finance Ministry has turned down several proposals of the Ministry of Commerce & Industry for initiating new schemes. However, the Ministry of Finance has in Principal has agreed to widen the existing schemes such as focus products, focus markets etc.
The DEPB scheme has been extended for one more year. The new WTO compliant scheme is likely to be announced in six months before the expire of the existing scheme to give enough time to the exporters to understand and plane their operations.
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