The Directorate General of Foreign Trade will meet exporters on Wednesday to discuss the broad contours of the Rs 2,250-crore export promotion scheme, according to Pankaj Chadha, chairman of the Engineering Exports Promotion Council.
While more clarity will emerge tomorrow, the discussions are expected to revolve around access to export credit, cross bordering factoring support and support to exporters in tackling non-tariff measures.
These are incentives that were announced under the Export Promotion Mission, part of the Finance Minister’s Budget speech this year. The implementation of the scheme was fast-tracked after tariff uncertainties led to exporters holding back in February-March.
The incentives may potentially be rolled out soon, to address uncertainties emerging from the US-China trade war and capitalise on the tariff differential that India has with its competing manufacturing economies.