Export subsidy hike ruled out due to WTO
Under the WTO regime, subsidy to exports was prohibited, the government would not be in a position to step up that amount in future.
By PTI |
KOLKATA: The government would not be able to increase export subsidy in the coming years as this would not be compliant with the WTO framework, Director General of Foreign Trade K T Chacko said on Friday.
Speaking at an interactive session on `India's foreign trade - challenges and prospects' organised by Merchants' Chamber of Commerce here, he said the government was giving Rs 6,000 crore to the industry in the form of various incentive schemes.
He said that since under the WTO regime, subsidy to exports was prohibited, the government would not be in a position to step up that amount in future.
Chacko also said that there was a need to increase exports to raise foreign exchange reserves of the country in view of the high import bill.
He said that by 2008-09, India has set up an export target of USD 150 billion.
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