Government extends sops for exporters - changes trade policy

(posted under - Indian Trade policy) - Extension of income tax holiday for export units for one more year and continuance of duty refund scheme till Decemer 2010 and enhanced assistance for the scheme for development of markets are among the measures in the FTP.

The aim of the policy, which would be reviewed after two years, would be to "arrest and reverse declining trend of exports," Sharma said.

Exports have been on a decline for the past 10 months. Exports in FY'09 amounted to USD 168 billion and the country hopes to maintain the same level this fiscal.

Expressing confidence that the country would be able to achieve a 25 per cent growth rate after two years, Sharma said, "By 2014, we expect to double India's exports of goods and services."

The long-term policy objective, he added, will be to double India's share in global trade by 2020. India's share in global merchandise trade went up from 0.83 per cent in 2003 to 1.45 per cent in 2008.