Trade policy may unveil sops for exporters

Relief for exporters, additional incentives for export of farm products other than those in short supply and more steps to check inflation through hassle-free and cheap imports are likely to be announced on Friday in the last review of Foreign Trade Policy by the UPA government.

The Commerce Ministry will be unveiling the annual review of the Foreign Trade Policy (FTP) in the backdrop of India's increasing dependence on import of food articles and exporters' woes arising from a looming US recession and rupee appreciation.

The FTP, defining the priority areas for exports and setting the ground rules for imports for the 2008-09, will be the last from the UPA government, which had changed its nomenclature from the Export-Import Policy since 2004.

The government has already indicated that it would address the problems of exporters, especially those engaged in the labour-intensive sectors of textile, leather, handicrafts and gems and jewellery.

"We are examining what relief can be given to exporters, especially in the employment generating sectors and the sectors to which we want to give a priority," Commerce and Industry Kamal Nath said recently.