The Centre is considering providing transport subsidy to States to promote agriculture exports, Commerce & Industry Minister Suresh Prabhu said.
The issue was discussed with the representatives of States, including Karnataka, Arunachal Pradesh, Uttar Pradesh, Assam, Nagaland, Tamil Nadu and Punjab, who participated in the meeting of the Council for Trade Development and Promotion here.
Lending to Exporters
While the World Trade Organization does not allow subsidies for farm exports, developing countries like India can provide subsidies to exporters for transport and marketing purposes.
Speaking to the media after the meeting, Prabhu said the Commerce Ministry was also in talks with the Finance Ministry on increasing lending to exporters and the Financial Services Secretary will soon hold a meeting with banks on the issue.
The trade gap with China has increased to $63.12 billion in 2017-18 from $51.11 billion in 2016-17.
Source :- Dailyshippingtimes.com