The Director General of Foreign Trade has said that the rates enhanced under the Merchandise Exports from India Scheme (MEIS), a scheme to promote exports, would continue beyond June 30.
The DGFT had issued a notification to this effect on May 11, 2018.
Garment exports received 4% MEIS benefit from November 1 last year and it was then said that the scheme would be valid till June 30, 2018.
Continuing the scheme would give confidence to garment exporters to book orders, said Raja Shanmugham, president, Tirupur Exporters’ Association (TEA).
An industry representative said the notification would give relief to the exporters from the uncertainty over the continuation of the scheme.
The MEIS is among the programmes challenged by the U.S. at the World Trade Organisation and the industry bodies were reviewing them.
The review is an independent exercise and drafting a new scheme would take time. At least till then there is no uncertainty on continuing with the existing scheme, the industry representative added.
Published - May 12, 2018 08:59 pm IST
