Govt may provide more sops to exporters | business | Hindustan Times
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Govt may provide more sops to exporters

business Updated: Mar 15, 2010 14:02 IST

The government is likely to provide more incentives to labour-intensive sectors such as textiles, leather and engineering goods that were affected badly by the global slump in demand.

"I have taken it (for some more sops like interest subsidy) up with the Finance Minister... He (Pranab Mukherjee) has shown great understanding and sensitivity in continuing support for some of the sectors. Hopefully, there will be some more coming," Commerce and Industry Minister Anand Sharma told reporters on the sidelines of a CII-EXIM Bank conclave in New Delhi.

Sharma had met Finance Minister Pranab Mukherjee after the Budget to ask for more sops for certain export sectors, which are still in the red.

In his meeting with Mukherjee, the minister is believed to have taken up issues like continuation of subsidised export credit to sectors like leather and engineering goods for another year as it was done for handicrafts, carpets, handlooms and SMEs in the Budget.

The two-per cent interest subsidy (interest subvention) scheme, which was to expire on March 31, 2010, was extended by another year in the Budget, but only for a few sectors.

Exports that went into red from October 2008 onwards following the slump in global demand have started rebounding since November 2009.