With a view to boost exports, the government will announce incentives for exporters in the forthcoming foreign trade policy (FTP).
Exports had entered positive zone after a gap of eight months, recording a 0.82 percent growth in January.
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Other sectors which performed well include rice, oil meals, pharmaceutical and chemicals.
Rao said the Ministry is intensely engaged with stakeholders for the forthcoming FTP, expected to be announced by end of this month.
"We are actively involved in consultations with chambers, export promotion councils, various departments and state governments and trying to arrive at a package of incentives which would be announced shortly," he said.
Special economic zones (SEZ), which are export hubs of the country, may also get incentives along with the FTP.
Imports rose by 2.6 percent to USD 41.18 billion in February, leaving a trade deficit of USD 14.92 billion from USD 14.93 in February 2012.
Last month trade deficit had widened to around USD 20 billion, the second highest figure ever in a month.
"We certainly expect that trade deficit to narrow as exports are picking up," Rao said.
However, during the April-February period, exports declined by 4 percent to USD 265.95 billion.
Imports during the 11-month period grew by a mere 0.25 percent to USD 448 billion, leaving a trade deficit of USD 182.1 billion.
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Save Dissent to Save Democracy THE rising instances of physical violence and threats against political opponents and the inability to accept dissent must raise huge concerns amongst all of us who see democracy as perhaps the really stellar achievement since Independence. AAP’s attack on BJP headquarters and acts of arson committed under the very noses of their elite leadership; the attacks on Arvind Kejriwal and Manish Sisodia in Gujarat in the last two days; the recent manhandling of the caretaker of journalist Siddharth Varadarajan’s house by some garden variety thugs; and the violence and threats meted out regularly to their political opponents by political parties is surely deplorable and condemnable. This is a fatally flawed trend which will destroy the very foundations of our democratic institutions if not pushed back with all the strength and condemnation that the civil society can mobilise. Replaying the past To begin with, it must be clarified that we should ...
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