A slowdown in exports is being apprehended in the future months, following which the government will most probably declare further sops for the lagging of textiles and handicrafts, according to its Foreign Trade Policy review as on August 23.

According to sources in the Commerce Ministry the fiscal incentive package is being worked upon to aid the lagging behind export sectors like textiles and handicrafts progress.

According to an official statement, Anand Sharma, the Commerce and Industry Minister will declare the policy concerning the supplement to the export import (Exim). This policy review will be made part of the Foreign Trade Policy (FTP) for the duration 2009-14, as declared in August 2009.

The rate of export growth in India was marked 13.1 percent for July because of the weak consumer demand in the chief markets such as the U.S. and Europe also the fading base effect, or comparatively higher figures of the same month previous year.

The handicrafts exported in July contracted by 60 per cent, followed by rice with 45 per cent, tea with 25 per cent, readymade garments with 23 per cent and electronics with 20.8 per cent.