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  • Mar 05, 2013
  • Foreign Trade Policy will aim to boost exports, Says Anand Sharma

    Commerce and Industry minister Anand Sharma on Monday said that the Foreign Trade Policy will aim to boost exports by bringing down transaction costs improving access to credit and lowering the cost to credit."We are looking to have FTP after all the consultations are complete it will take at least one month because India is a big country and we don't want to rush it," Sharma said after his meeting with the Confederation of Indian Industry (CII) delegation on the export sector. The policy is likely to be rolled out in second half of next month.P Chidambaram on Monday also flagged the need to boost export, pitching is as the only long term solution to India's current account deficit that has touched an all time high.He promised all the help to commerce ministry in the upcoming foreign trade policy. He has already budgeted a 20% increase in the budget allocation on interest subsidy for export promotion and has raised hopes of an equally higher outgo for other schemes and incentives.

    Source - http://economictimes.indiatimes.com