More sops to spur auto exports soon

In a move to boost export of automobiles from India, the Centre, has announced additional incentives on overseas shipments of cars and good carriers to 13 countries, including Australia and Brazil.

Cars and other vehicles used for transportation of goods have been included in the new market linked focus products, under which exporters will get incentives equivalent to two per cent of free-on-board (FOB) value of exports in foreign exchange, the Directorate
General of Foreign Trade said.

Earlier, under the scheme the exporters were getting 1.25 per cent of FOB value of exports.