The Associated Chambers of Commerce & Industry of India welcomes the government incentives to exporters which would be a true Diwali bonanza of INR 1,700 crore.

The beneficiary would be in the sectors of engineering, pharmaceuticals and chemicals and would reward entrepreneurs looking for new market in Latin America, Africa and CIS regions (Commonwealth of Independent states).

Mr Dilip Modi president of ASSOCHAM said that the government steps would help to boost the Indian exporters and come out from the global slowdown.

He added that engineering, pharmaceuticals and chemicals would also get special bonus of additional 1% of export value between October and March 2011.