FTP to provide relief to rupee-hit exporters

Source: PTI

March 11, 2008 17:36 IST

Commerce and Industry Minister Kamal Nath said on Tuesday the annual supplement to the Foreign Trade Policy, to be announced next month, will try to provide relief to the rupee-hit exporters.

"We are looking at measures which are WTO compatible and can neutralise levies which are not being refunded at the moment," Nath said.

The commerce ministry is currently firming up the annual supplement to the FTP,

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which is likely to be unveiled in April.

Referring to the export performance during 2007-08, Nath said, actual export was likely to remain short of the target of $160 billion.

The exports during the year were likely to reach a level of $152-155 billion, he added.

Rupee has appreciated nearly 10 per cent against the dollar during the current fiscal, thus hitting domestic exporters hard.