Sops for select export sectors on cards: Anand Sharma

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SME Times News Bureau | 02 Nov, 2009
The government is considering to selectively extend more sops to exporters rather than withdrawing the stimulus given to them last year in the face of the global economic slowdown, news agency PTI reported Sunday quoting Commerce and Industry Minister Anand Sharma.

"The engineering sector may need some support. For apparel and handicrafts, we will see if we can do something more. We will review and see if we can give some more incentives," Sharma told reporters travelling with to Nepal and Egypt.

The commerce minister had gone to Kathmandu for signing a new India-Nepal trade treaty on October 27 while in Cairo he attended a consultation meeting with African nations on WTO negotiations on October 29

Sharma was categorical about continuation of the stimulus package as the exporters remain in trouble despite containment in damages. He would review the latest trends and outlook on the export sector later this month.

"It is premature even to think on exiting the contra - cyclical measures," he added.

According to latest data revealed, India's exports declined by 13.8 per cent in September, for 12 months in a row, but the fall was lowest in the current financial year. The exports in September stood at USD 13.6 billion, against USD 15.8 billion in the same month last year.

Earlier, Finance Minister Pranab Mukherjee had ruled out any roll back of the stimulus package in a hurry.