Indian Exports to reach 500 billion US dollars by 2014. This was revealed by Commerce and Industry Minister Anand Sharma in New Delhi today while making announcements on the Foreign Trade Policy for 2009 to 2014.
Mr Sharma unveiled a slew of measures to address the concerns of Exporters amidst the ongoing slowdown in European and US markets.
A new scheme to provide special assistance to engineering, pharmaceuticals and chemical sectors was launched on the occasion. Mr. Sharma also introduced a Special Market Scheme to increase the global competitiveness of exports.
Under this scheme, special assistance will be provided for exports to markets in Latin America, Africa and CIS Countries.
Government also launched the 'Niryat bandhu' scheme meant to encourage new and young entrepreneurs in export business.
Chairman of the Federation of India Export Organisation R Deora hailed the new incentives as Diwali bonanza for the exporting community.
He said that the measures will help the export industry to deal with the global crisis.
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