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INR625 crore’s worth of incentives offered to Indian exporters

The Indian government on Wednesday unveiled incentives worth INR625 crore (INR6.25 billion, USD139.71 million) to exporters of garments, electronic and engineering goods and agro chemicals, as the demand for these products has yet to pick up in key western markets, while the country’s overall exports are looking up.

The bulk of these incentives (worth INR400 crore (INR4 billion, USD89.40 million)) under the Commerce Ministry’s market-linked focus product (MLEP) scheme, would go to garment exporters, with 300 export items to the two largest markets – the US and the 27-country EU bloc – being eligible for the benefit.