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Posted on Dec 27, 10:37AM | UNI
Hailing Union Commerce and Industry Minister Anand Sharma's announcement regarding additional incentive measures to revive marchendise exports, Confederation of Indian Industry National Committee on Exports and Imports Chairman Sanjay Budhia today said it was a 'welcome step'.
In a statement, he said extending interest subvention to certain specific sub-sectors of the engineering sector till March 31, 2014,31st March 2014 would help the exporters, affected by the falling exports in US and EU.
'Providing long term concessional credit through EXIM Bank, as co-financing in infrastructure sectors s for SAARC, Africa and Myanmar will definitely increase exports to this region,' he said.
Adding five new countries under the Special Focus Market Scheme, sixty new products including Engineering, Rubber, Textiles, Drugs and Pharmaceuticals and three countries (Taiwan, Thailand and Czech Republic) under the Market Linked Focus Product Scheme was also a right step in the right direction at this crucial time, Mr Budhia added.