Incentives for exports won’t make them competitive

With FY13 exports missing the target by a whopping $60 billion—exports were $301 billion versus the $360 billion target—and there being little chance of meeting the FY14 $500 billion target set a couple of years ago, the question is whether the sops announced in the Foreign Trade Policy (FTP) will add up to much. These include extending the 0% Export Promotion Capital Goods (EPCG) scheme to all sectors, extending the 2% Interest Subvention Scheme to more sectors and introduction of more focus-market schemes.

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