Govt enhances support for exports under MEIS

Top Stories

»	49% Indian startups now from tier 2, 3 cities: Jitendra Singh
»	'India ranks 3rd in global startup ecosystem & number of unicorns'
»	Tripura exported over 9K tonnes of pineapples in 2 years
»	CPI inflation eases to 6.71% in July, IIP falls to 12.3%
»	Rupee depreciates 12 paise to close at 79.64 against US dollar

SME Times News Bureau | 23 Sep, 2016
In the backdrop of the continued challenging global environment being faced by Indian exporters, Department of Commerce has extended support to certain new products and enhanced the rate of incentives for certain other specified products under the Merchandise Exports from India Scheme (MEIS) of the Foreign Trade Policy (FTP), said an official statement.

The total support extended by Government of India under the scheme has been enhanced from the present Rs 22,000 crore to Rs 23,500 crore per annum. With this the total number of items covered under the scheme has been increased from 5012 to 7103, said an official press release on Thursday.

This has been implemented through DGFT public Notice No 32 dated 22.09.2016, it said.

According to press release, the major highlights of the support are 2901 additional products falling under different product categories have been added.

Many items of traditional medicines like Ashwagandha herbs and its extracts, other herbs, extracts of different items. Certain marine products, sea feed items. Onion dried, processed cereal products and other value added items of plastics, lather articles, suitcases etc. also included.

Industrial products under different categories, including engineering goods, fabrics, garments, chemicals, ceramics, glass products, leather goods, newspapers, periodicals, silk items, made ups, wool products, tubes, pipes etc.

Rates of 575 product items falling under 11 products categories have been increased. These product include products of iron and steel, handicrafts, moulded and extruded goods, rubber, ceramic, glass, auto tyres and tubes, industrial machinery engineering items, IC Engines, machine tools / parts, items of wood, paper, stationary, footwear, auto seats, steel furniture, prefabs, items under the category of butter, ghee and cheese, dried egg albumin and rubber products.