India’s cabinet approves incentives for exporters of select goods

NEW DELHI (Reuters) – India’s federal cabinet on Wednesday approved incentives amounting to 6 billion rupees ($85.51 million) for some goods exporters, in a move to push shipment of farm produce, textiles, leather and handicraft goods, a government statement said.

The exporters will get 3 percent interest subsidy on pre-shipment and post-shipment bank credit that is likely to make them more competitive in the global market, the statement said.

($1 = 70.1700 Indian rupees)

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