Page last updated at 16:21 GMT, Thursday, 27 August 2009 17:21 UK

India takes steps to lift trade

Indian worker in an industrial area of Mumbai
The rate of growth of India's exports has slowed

India has announced measures to help its exporters, as it warned that the rate of growth of the country's exports would continue to slow.

Commerce Minister Anand Sharma said the government expected growth to slow from 25% in the year to 31 March 2009 to 15% for the year ending March 2011.

To help exporters, the government will introduce tax breaks, and waive some import duties on capital goods.

The rate of India's export growth has slowed for 10 straight months.

"This year we are witnessing one of the most severe global recessions in the post-war period," he said.

"Fortunately India has not been affected to the same extent as other economies of the world."

Mr Sharma added that the government would help firms export more to Latin America, Africa, Eastern Europe, Australia and New Zealand.

The US and Western Europe are currently India's most important export markets.



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