Continue sops for exporters to boost exports: CII

PRESS TRUST OF INDIA

New Delhi, Apr 1: Ahead of the Foreign Trade Policy review, industry body CII has asked the government to continue incentives like Focus Market Scheme, under which exporters get benefits on shipping goods to particular markets. "Continuation of Focus Market Scheme (FMS) and Focus Product Scheme (FPS) will help in boosting the country's exports and help in achieving the $ 500 billion target by 2014-15," CII said.
 These schemes were announced under the Foreign Trade Policy 2009-14. Under the FMS, various benefits are provided to reduce high freight cost to select global markets like Latin America. It allows duty credit of 2.5 per cent of FOB (free-on-board) value of exports to countries that are identified as focus markets by the government.
 While under the Focus Product Scheme, duty credit facility at the rate of 2.5 per cent of FOB value of exports of notified products, including textiles and chemicals is given to exporters. The chamber said revival of export growth could be done by addressing infrastructure bottlenecks and reducing cost of credit should be the primary focus of the government.

Lastupdate on : Sun, 1 Apr 2012 21:30:00 Makkah time
Lastupdate on : Sun, 1 Apr 2012 18:30:00 GMT
Lastupdate on : Mon, 2 Apr 2012 00:00:00 IST




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