The government will look at export incentives for the labour-intensive power loom sector, which accounts for 82% of garment exports in the country and employs over 7,50,000 people, commerce and industry minister Anand Sharma said on Tuesday.
The foreign trade policy announced on Monday had incentives for other labour-intensive export sectors such as handlooms, handicraft and leather but the power loom sector was left out.
?We will look at giving export sops to power loom sector?I will discuss the matter with the commerce secretary and director-general of foreign trade,? Sharma said at an interactive session organised by the Federation of Indian Chambers of Commerce and Industry (Ficci).
He, however, said the government did not have ?deep pockets? to dole out incentives. ?It is very difficult to convince finance ministry on incentives,? he said.
The government will conduct sector-wise review of exports in November as was done last year and take corrective measures.
The commerce minister also allayed fears of the special economic zone developers that the proposed Direct Tax Code may do away with exemptions and adversely impact their functioning.
?We are sensitive to the concerns of industry. I can assure you that the PM and the finance minister have taken on board the concerns of the industry,? Sharma said.
