Exports support increased to Rs 23,500 crore a year
New Delhi: Amid a challenging scenario of exports, the central government has enhanced its incentives support under the Merchandise Exports from India Scheme (MEIS) from Rs 22,000 crore to Rs 23,500 crore per annum, said an official statement.
The Department of Commerce increased the range of items covered under the scheme from 5,012 to 7,103. The 2,901 new products fall under categories such as traditional medicines, certain marine and processed cereal products and other value added items of plastics, leather articles, suitcases, etc.
Under the scheme, which is implemented through Directorate General of Foreign Trade, the Ministry also raised incentives rates of 575 products.
These products fall under 11 categories namely iron and steel, handicrafts, moulded and extruded goods, rubber, ceramic, glass, auto tyres and tubes, industrial machinery engineering items, IC Engines, machine tools, items of wood, paper, stationary, footwear, auto seats, etc.