India removes silico-manganese rebate on exports to Europe

India has removed the 4% export incentive it gives to domestic silico-manganese suppliers on exports to Europe, as it restructures the scheme as part of the government’s new foreign trade policy.

The export rebate had been implemented under India’s Focus Product Scheme, which paid back suppliers of certain products including silico-manganese a percentage of the value of their exports. But the traditional export benefit has been abolished and a new country-specific scheme has been introduced. Under this new scheme, the export benefit to the EU, Canada, USA and Australia has been removed, while the incentive has been cut to 2% of the fob value of goods exported to other countries. The...

Published

Chloe Smith

April 09, 2015

15:13 GMT

London