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The names of the countries implementing incentive programmes for exports and details of incentive packages given by such countries are tabulated as under:
S. No. | Name of the country | Name of the incentive programmes | Details of incentive packages |
1. 2. | U.S.A EU | Generalized System of Preferences (GSP) | This promotes economic growth in the developing countries and least developed countries. Preferential duty free treatment is provided for about 30-40% products of designated beneficiary developing countries. India is also one of the beneficiary developing country. |
Reserve Bank of India makes the assessment for devaluation of currency considering various factors like inflationary pressure on domestic economy etc. Devaluation may positively impact exports at times, but policy of devaluation is managed by RBI on other considerations as well.
This information was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today
Generalized System of Preferences extends preferential duty-free access to beneficiary developing countries, aiding export growth while currency policy affects competitiveness. The document notes the Generalized System of Preferences (GSP) used by the U.S.A. and the EU to grant preferential duty free treatment to designated beneficiary developing countries, including India, to promote export growth. It also states that the Reserve Bank of India assesses currency devaluation-considering inflation and other macroeconomic factors-which may affect export competitiveness, and that this information was given by the Commerce and Industry Minister in a parliamentary written reply.Press 'Enter' after typing page number.