India Cabinet approves incentives for exporters of select goods

New Delhi (Reuters): India’s 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% 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.