Incentive Programme by USA and EU for Exports set to motivate Indian Exporters: Sitharaman

USA and EU are implementing Generalized System of Preferences (GSP) incentive programme, Commerce and Industry Minister  Nirmala Sitharaman informed in a written reply to Rajya Sabha.

Both, USA and EU are implementing incentive programmes for exports, which can be lucrative for Indian exporters.

This programme promotes economic growth in the developing countries and least developed countries. Preferential duty free treatment is provided for about 30-40 percent products of designated beneficiary developing countries. India is also one of the beneficiary developing country.

Reserve Bank of India (RBI) 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.