India to further help currency-hit exporters

India's finance officials on Thursday approved a $125 million subsidy package for the country's exporters who have taken a hit on orders as a result of the falling dollar and rising rupee, the Times of India reported.

India's currency has appreciated roughly 12 percent against the dollar over the last year, hurting the viability of the country's producers of textiles, leather goods and handicrafts. The latest subsidy brings the total export aid allotted to exporters to $1.4 billion over the past year.

The subsidy is essentially delivered through 2 percent relief in pre- and post-shipment duties. 

Source: American Shipper