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Exporters were disappointed over the Union Budget 2012-13 not extending the interest subsidy scheme beyond this fiscal-end particularly when there has already been over 50 per cent increase in interest cost for exports.
However, their apex body, the Federation of Indian Export Organisations welcomed the focus on infrastructure saying it will benefit manufacturing as well as exports.
The specific measures in the Budget that will indirectly benefit exports include: Target of covering 8,800 km under National Highways Development Programme NHDP next year; full exemption from basic duty provided to certain fuels for power generation; tax free infra bonds; and easing external commercial borrowings (ECB) norms for power projects, airline industry as well as roads and highways.
Besides, the proposals to set up two new mega clusters (in Andhra Pradesh and Jharkhand) and strengthening of existing ones will boost exports of handloom textiles and leather, the FIEO President, Mr M. Rafeeque Ahmed, said.
He added that the incentives given to the textiles industry will help the sector withstand competition from Bangladesh, Sri Lanka, Vietnam and Turkey.
The concession granted to cold chain facilities will help in backward integration and will ensure adequate surplus of food products for exports, he said.
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