Govt. to unveil foreign trade policy today

New Delhi, Aug 27 (ANI): The Government will unveil its foreign trade policy today for the next five years starting from FY10.

It is expected to eliminate or refund taxes and offer cheaper bank credit to recession-battered exporters, besides encouraging them to look beyond the US and European markets.

The policy will address the problems plaguing the Indian exporters, particularly the labour-intensive sectors such as textiles, leather, gems and jewellery.

India's exports fell at an annual rate of 27.7 per cent in June to 2.8 billion dollars, its ninth straight monthly fall, as economic downturn in key developed markets continued to hurt demand for local goods. (ANI)