New Delhi: The new foreign trade policy to be unveiled this month end will revise schemes to make India's exports competitive to achieve higher growth of over 16 per cent annually.

"We will revise schemes to make export incentives WTO (World Trade Organisation) compatible besides making Indian exports more competitive," Commerce Minister Kamal Nath told reporters in New Delhi today (Aug 6, 2004).

Nath, who had a meeting with Finance Minister P Chidambaram ahead of the new foreign trade policy to be launched on Aug 31 said, "We will make export incentives WTO compatible."

He said exports would get highest priority of the Government to achieve higher economic growth. Besides, export-led growth had the potential for higher employment generation.