Product and Destination Diversification to Improve Exports

The Government of India continuously monitors the export performance of different sectors and takes need based measures from time to time, keeping in view the financial and overall economic implications. In furtherance of the above strategy, the Government had introduced Focus Market and Focus Products Schemes to encourage exports of traditional as well as non-traditional products and to certain markets. In December, 2012 Government has taken the following measures to boost the exports:

(i) A new Incremental Export Incentivisation Scheme has been introduced to provide additional 2% incentive on the incremental growth achieved during the period January to March, 2013 over the corresponding period of 2012.

(ii) 5 new markets have been added in the Focus Market Scheme.

(iii) Approximately 100 products have been added in Focus Product Scheme.

(iv) Interest Subvention Scheme has been extended to specified tariff lines of Engineering Sector.

This information was given by the Minister of State for Commerce & Industry Dr. D. Purandeswari in written reply to a question in Rajya Sabha today.

DS/RK

(Release ID :92649)