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‘Export promotion schemes opposed by U.S. not subsidies’
Context
Latest Indo US trade dispute related to export promotion schemes at WTO
Government’s response
As per government, textile ministry is not giving subsidies. Industries face high logistics costs and State levies and these are not reimbursed. Schemes such as the Merchandise Exports From India are to offset these costs. The Export Promotion Capital Goods Scheme is for adoption of better technology
What is Technology Upgradation Fund Scheme?
The Technology Upgradation Fund Scheme was introduced by the Government in 1999 to facilitate new and appropriate technology for making the textile industry globally competitive and to reduce the capital cost for the textile industry
