More incentives for exporters on anvil

The government on Friday assured industry that it will soon announce incentives for exporters to provide them a cushion in the wake of declining shipments due to global slowdown.

“Sharma assured the industry that measure to support exporters will be announced as early as Monday”, an official release said.

During April—November this fiscal, the country’s exports have shrunk by 5.95 per cent to $189.2 billion.

Sharma chaired the 5th meeting of the Government-Industry Joint Task Force, which takes stock of the developments on the economic front.

Talking to reporters after the meeting, the minister said the industry has conveyed its concerns over issues like cost of credit and rising cost of manufacturing.

“Industry has conveyed its concerns about the cost of credit, weak disbursement of credit, rising cost of manufacturing, transaction cost, raw material availability,” he said adding there is an urgent need to remove the bottlenecks.

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