Misconception that India is subsidising exporters: Prabhu
Kolkata, July 7: A Union Commerce Minister Suresh Prabhu on Saturday said there is misconception that India is providing subsidies to its exporters, noting what the government gives is to minimise the adversities they suffer in entering the global markets.
"This is a misconception that we subsidise our exports... actually we don't subsidise the exports. What we give to the exporters in India is not any subsidy or incentive to promote exports but in a way, (to) partially offset the inadequate infrastructure support that they have... the high interest cost in the system," he said.
"We are trying to minimise the adversities they suffer from. This is not actually exports subsidy but in a way it is actually reducing the burden which they suffer to enter the global markets," he said at SHEFEXIL (Shellac and Forest Products Export Promotion Council) Awards for Export Excellence in association with The Economic Times.
Rich countries are providing more subsidies to their farmers that India is giving, he said.
"We are actually in a way not at all violating or not even trying to infringe any of the global trading system," he said, adding that the country is "fully WTO compatible".
Prabhu also said that in a bid to promote exports and overall industries growth, the centre is preparing a logistic plan.
"We are working on the logistic plan in two phases. The first is how to optimise the present logistic infrastructure and integrate it. The second is to create logistic hubs so that products get launched globally to use these hubs."
He also pointed out the possibility of creating basis for logistics in critical areas overseas and citing an example of central American country like Panana which connects both north and south America, Prabhu said logistic base in such country can help India's exporters.
He said India is preparing a matrix of products and countries that can be exported. "We are actually identifying 12 champion sectors," he added.
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Noida student's death: Family cries foul, police says autopsy confirms drowning
Noida (PTI): The family of a 21-year-old university student, who drowned at an abandoned construction site in Noida, Thursday alleged foul play saying there were marks on his body even as the police confirmed drowning as the cause of death.
According to a police statement, sand and water were found in the lungs of the deceased, identified as Harshit Bhatt, while his viscera has been preserved for further examination.
Bhatt, a final-year Bachelor of Physical Education student of the private university and a resident of Indirapuram in Ghaziabad, had drowned on Wednesday in a water-filled area at the abandoned construction site in Sector 94, under Sector 126 police station limits.
Deputy Commissioner of Police (Noida) Saad Miyan Khan said the student had gone to the site along with four friends to celebrate the end of their examinations.
"During the outing, Bhatt entered a nearby water-filled pit to bathe and suddenly drowned," the officer said, adding that the incident was reported to Dial-112 by one of his companions.
Police and PRV personnel rushed to the spot and, with the help of local divers, retrieved him from the water and rushed him to a hospital, where doctors declared him dead.
Khan said other students who had entered the water in an attempt to rescue him were safely pulled out and are stable.
Meanwhile, Bhatt's mother has alleged that there were black marks on his body, raising suspicion over the incident.
Police, however, said no formal complaint has been received from the family so far and action will be taken if any complaint is lodged.
An eyewitness, who assisted in the rescue, said he and others rushed to the spot after hearing cries for help and managed to pull out two students.
"They told us it was their last exam and they had come for a party. One of them went deeper into the water while bathing," the eyewitness said.
