Indian Economy News

India: Duty drawback extension and ISRO's successful launch of remote sensing satellite

  • IBEF
  • December 13, 2016

The Government of India has recently extended duty drawback facility on all textile products for one year. The move is expected to boost exports and work for the benefit of Indian exporters. The annual textile exports from India currently stand at around US$ 42 billion.

In another significant development, the Indian Space Research Organisation (ISRO) has successfully placed remote sensing satellite Resourcesat-2A in orbit, to provide continuity to ISRO's three tier imaging data. The recent launch is expected to be extremely useful for agricultural applications like crop area and crop production estimation, drought monitoring, soil mapping, cropping system analysis and farm advisories generation. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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