No new incentive plan for services exports under foreign trade policy

Services exports, however, grew over 36 per cent in February at $29.15 billion, according to the Department of Commerce's estimates

There may not be an incentive scheme for services exports under foreign trade policy (FTP) to be unveiled later this week. The government holds the view that all services sectors are ‘self-sufficient’ and can make healthy foreign exchange (forex) earnings without the need for incentives, Services Export Promotion Council Chairman Sunil H Talati told Business Standard.

“If the government is handing out production-linked incentive schemes to other production sectors, why should the services sector be sidelined? As far as the production of goods is concerned, it’s a competitive market the world over. Many countries are competing with India. Therefore, they