DGFT extends duty benefits to 63 more handicraft items

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SME Times News Bureau | 18 Jul, 2015
The Director General of Foreign Trade (DGFT) has increased the duty benefits on several products, including 63 handicraft items, under the Merchandise Exports from India Scheme (MEIS) to boost exports, reports media.

"The rates of the 63 lines (of handicraft sector) are amended...under the Merchandise Exports from India Scheme (MEIS)," the Director General of Foreign Trade has said. Besides, there are several other products whose duty benefits have been increased.

In group A list, the government gives up to 5 percent duty benefits and more products are there.

The handicrafts products which have been benefited include candles, hand bags/shopping bags of cotton, wooden frames for paintings photographs mirrors or similar objects, handmade paper and shawl, scarves, muffler of man-made fibres.

Meanwhile, exporters body, Export promotion Council for Handicrafts (EPCH) said as per the notification, 63 handicrafts items where the benefit was less in the previous notification have been added with higher incentive and additional new 30 handicrafts items have also been added in the list.

The Foreign Trade Policy 2015-20 was announced in April, 2015 with a new scheme titled Merchandise Exports of India Scheme (MEIS) replacing the Focus Product/Focus Market Scheme. Under this scheme, Duty Credit Scrip benefit was given on various handicrafts items, however, the benefit due to handicrafts sector was not adequately addressed in the MEIS scheme.

While welcoming the decision D. Kumar, Chairman-EPCH has again requested to Ministry of Commerce & Industry to implement the revision with retrospective effect from 1st April 2015, the day on which FTP was announced.

The amendments/additions to the Merchandise Export of India Scheme (MEIS) covered under Foreign Trade Policy 2015-20 has been carried out through a fresh Public Notice No. 27/2015-2020 dated July 14, 2015 with additions/amendments in Table 1 (containing list of country groups) and Table 2 (containing ITC(HS) Code wise list of products with reward rates) of Appendix 3B.