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Incentives rate for garments
November 26 , 2017
2426 days
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- 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 for two subsectors of textiles industry - readymade garments and made-ups.
- The measure will incentivise the exports of labour intensive sectors of readymade garments and made-ups and contribute to employment generation.
- MEIS was launched under Foreign Trade Policy of India (FTP) 2015-20 and its objective is to offset infrastructural inefficiencies and associated costs involved in export of goods and products, which are produced and manufactured in India.
- Under this scheme, Ministry of Commerce gives duty benefits at 2%, 3% and 5% depending upon the products.
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