The Indian government seems to have suddenly woken up to the reality of the health of the economy having deteriorated to the point of needing a doctor.
The Punjab Small Exporters Association has claimed that steps taken in the policy were not enough to boost export.
Tax concessions to exporters announced in the new Foreign Trade Policy will cost the exchequer an extra Rs 2,200 crore.
India`s exports which contribute 17-18 percent of the country`s GDP are highly dependent on the European Union and the US, while, their destination to Africa, and Latin America is dismal, a study by the RBI said.
The government will announce on August 27 its foreign trade policy for the next five years starting from FY10, Trade Minister Anand Sharma said on Monday.
Commerce and Industry Minister
Anand Sharma on Wednesday said that he will hold consultations with Finance Minister Pranab Mukherjee shortly before finalising
the Foreign Trade Policy.
Day in Pics: 31st January
Showbiz World - January 31, 2015