New export incentive schemes will be launched within a month

New Delhi: The government is finalizing the outline of new export incentive schemes. This would include providing sufficient flexibility to deal with the uncertainty arising out of counter -charges and possible charges leveled by the US.

According to knowledgeable sources, apart from the decision to impose counter -fees from April 2, the US has planned to impose fees on other items like steel and aluminum from March 12.

A inter-ministerial committee of officers of Commerce, Finance and Micro, Small and Medium Enterprises Ministries is working on a new assistance scheme for exporters. This scheme is being prepared under the Export Promotion Mission of Rs 2,250 crore declared in the budget.

This new scheme is being prepared especially keeping small exporters in mind, so that they can receive loans without any collateral and meet compliance requirements of non-tariff measures imposed by developed countries. Its objective is to promote alternative means of raising funds through cross-border factoring assistance and to provide assistance to risky markets.

The federation of Indian export organizations said that the current effect is that the purchase is being done with a little more caution. The amount of order has declined due to the back of buyers.