Government may offer help to exporters
11/03/2008
India’s commerce and industry minister, Kamal Nath, has said the government may be prepared to offer financial concessions to exporters of leather, leathergoods and other products. Indian exporters have complained about the effect on their businesses of currency appreciation.
The government had set an export target of $160 billion for the financial year 2007-08. Its chances of meeting the target have suffered because the value of the rupee has risen by 11% in the last year.
The minister commented: “We are looking at measures which are WTO (World Trade Organisation) compatible and can neutralise levies which are not being refunded at the moment.” He added that total export earnings for the financial year might be nearer the $155 billion mark.
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