New Delhi, Sep 15 (PTI) In a move to boost export of automobiles from India, the government has announced additional incentives on overseas shipments of cars and good carriers to 13 countries, including Australia and Brazil.
Cars and other vehicles used for transportation of goods have been included in the new market linked focus products, under which exporters will get incentives equivalent to two per cent of free-on-board (FOB) value of exports in foreign exchange, the Directorate General of Foreign Trade said.
Earlier, under the scheme the exporters were getting 1.25 per cent of FOB value of exports.
In the new Foreign Trade Policy, the government had identified 13 countries, including those in Latin America and Africa, in a bid to increase exports, which are on a downslide since October 2008.
Source : PTI