FIEO welcomes revision of MEIS
Updated: Oct 31, 2015 03:52:28pm
New Delhi, Oct 31 (KNN) Welcoming the government’s decision to revise Merchandise Exports from India Scheme (MEIS), the Federation of Indian Export Organisations (FIEO) president SC Ralhan said it is indeed a Diwali gift for the exporting community.
He said that the MEIS scheme introduced in the new Foreign Trade Policy 2015-20 had not covered several items and countries which were eligible for rewards in the previous policy.
This had given a huge pressure to exporters who had booked orders taking into consideration the benefits available to them and were therefore demanding this revision for a long time, added Ralhan.
He said that inclusion of 110 new tariff lines and revising rates and country coverage for 2228 tariff lines will indeed enhance price competitiveness to some extent and help in arresting the current downfall in exports.
However, Ralhan observed that few value added items particularly in Agri sector have not been rewarded which needs consideration. (KNN Bureau)
He said that the MEIS scheme introduced in the new Foreign Trade Policy 2015-20 had not covered several items and countries which were eligible for rewards in the previous policy.
This had given a huge pressure to exporters who had booked orders taking into consideration the benefits available to them and were therefore demanding this revision for a long time, added Ralhan.
He said that inclusion of 110 new tariff lines and revising rates and country coverage for 2228 tariff lines will indeed enhance price competitiveness to some extent and help in arresting the current downfall in exports.
However, Ralhan observed that few value added items particularly in Agri sector have not been rewarded which needs consideration. (KNN Bureau)
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