Exports Current Affairs

DGFT doubles incentives rates for garments under Merchandise Exports from India Scheme

Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry has doubled rates for incentives under Merchandise Exports from India Scheme (MEIS) from 2% to 4% of value of exports.

The rates for incentives under this scheme have been enhanced for two subsectors of textiles industry — readymade garments and made-ups. This measure will incentivise the exports of labour intensive sectors of readymade garments and made-ups and contribute to employment generation.

Merchandise Exports from India Scheme (MEIS)

MEIS was launched under Foreign Trade Policy of India (FTP) 2015-20. It is one of the two schemes introduced in FP 2015-20, as part of Exports from India Scheme. The other scheme is Service Exports from India Scheme (SEIS).

Objective of MEIS is to offset infrastructural inefficiencies and associated costs involved in export of goods and products, which are produced and manufactured in India. It also seeks to enhance India’s export competitiveness of these goods and products having high export intensity, employment potential. Under this scheme, Ministry of Commerce gives duty benefits to several products. It provides duty benefits at 2%, 3% and 5% depending upon the product and country.

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APEDA to promote NE products in Bangladesh and Myanmar

The Agricultural and Processed Food Products Export Development Authority (APEDA) has taken up a programme for promotion of north eastern products in Bangladesh and Myanmar. In this regard, it has proposed to organise promotional programmes in Bangladesh and Myanmar in association with the High Commission of India in Dhaka and its Embassy in Yangon.

The export of APEDA scheduled products to Bangladesh during 2016-17 was of US $396.44 million. The major products exported to Bangladesh include rice, fruits, wheat, vegetables, maize, dairy products and pulses. The export of APEDA scheduled products for Myanmar during 2016-17 was of US $24.15 million. The major products exported to Myanmar include rice, cereal preparations, maize, rice, fruits, and vegetable seeds.

Agricultural and Processed Food Products Export Development Authority (APEDA)

The APEDA is an apex statutory export promotion organisation under the Union Ministry of Commerce and Industry. It was established under APEDA Act, 1985. It is mandated with responsibility of promotion and development of the export of its scheduled products which includes all agricultural products.

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