New Delhi: The government on Tuesday launched a new incentive scheme – in accordance with the rules of the World Trade Organization (WTO) – to increase exports that will enable exporters to get a tax return paid to the federal government and the country, the trade minister said.
The government plans to spend RS 19,440 Crore ($ 2.61 billion) which offers incentives to exporters based on schemes that will take effect since January 2021, the Ministry of Trade officials told reporters.
India has set a target of $ 400 billion in export of merchandise for the current fiscal year which ended in March 2022, compared with $ 291.2 billion in previous fiscal years.