New FTP from April 1, Commerce Ministry informally tells exporters
Exporters have been informally told by the Commerce Ministry that some of the existing products and market-related incentive schemes for them would continue till March 31, 2015 and a new foreign trade policy (FTP) would be implemented only from April 1, sources said.
A formal announcement may be made by the Ministry, but at the moment no orders have been issued, a Directorate-General of Foreign Trade (DGFT) official said.
Some of the existing product and market-related incentive schemes would continue in the present form till March 31 and the ones that lapsed at the end of the previous fiscal, such as the interest subvention scheme for exporters, would not be available this year, sources added.
"The Finance Ministry’s focus on containing expenditure to meet the fiscal deficit target for the year is the main reason behind new schemes not being announced and some old ones not being continued," said a Ministry official.
Source: Exim News Service
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