Government to offer incentives to boost exports – Times of India
(Representative image)
NEW DELHI: The government on Tuesday launched a new incentive scheme - compliant with World Trade Organization (WTO) rules - to boost exports that will enable exporters to get a refund of taxes paid to the federal and state governments, its trade minister said.
The government plans to spend Rs 19,440 crore ($2.61 billion) offering incentives to exporters under the scheme that would be effective from January 2021, a trade ministry official told reporters.
India has set a target of $400 billion in merchandise exports for the current fiscal year ending in March 2022, compared to $291.2 billion in the previous fiscal year.
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