The India Government Has Raised The Export Rebate Rate Of Leather Goods By 3%

India's Economic Times reported that the India government has introduced a series of measures to encourage exports to reduce profits losses caused by the rupee's appreciation against the US dollar.

It is learnt that the measures adopted by the government of India include: 14 billion rupees (about 350 million dollars) for export subsidies; export rebate rate of textile and clothing, leather goods, handicrafts, engineering products, agricultural processing products, seafood, sports goods, toys and so on; the export rebate rate of other products is increased by 3%; the export rebate rate of other products is increased by 2%; preferential loans for small and medium-sized export enterprises are provided, and loans for textile and clothing, leather products, handicrafts, engineering products, agricultural processing products, marine products, sports goods and toy export enterprises are more favorable.

In addition, the government of India has allocated 6 billion rupees (about US $150 million) to clear up unpaid funds such as excise tax, central sales tax and so on.