export-oriented

The commerce ministry is looking to give exports a shot in the arm.

Sources say it has set up a committee to look into the recast of the income-tax exemption scheme currently available to export-oriented units. Remember, the current scheme expires in March 2011.

Under the scheme's new avatar, these export oriented units may be eligible for promotion schemes.

CNBC-TV18 learns that this move is necessary if the ministry is to achieve its 2014 export target of USD 400 billion.

This recast is part of the ministry's strategy to boost exports, and it is expected to release a paper detailing this new strategy by January next year.