DGFT Notifies 2901 Products for MEIS Benefits
· 575 Products MEIS Rates Raised by One Percent
In the backdrop of the continued challenging global environment being faced by Indian exporters, Department of Commerce has extended support to certain new products and enhanced the rate of incentives for certain other specified products under the Merchandise Exports from India Scheme (MEIS). This has been implemented through DGFT public Notice No 32 dated 22.09.2016.
The following are the major highlights of the support:-
Addition of new products –
2901 additional products falling under different product categories have been added. These include items in the following areas:
Many items of traditional medicines like Ashwagandha herbs and its extracts, other herbs, extracts of different items.
Certain marine products, sea feed items.
Onion dried, processed cereal products and other value added items of plastics, lather articles, suitcases etc
Industrial products under different categories, including engineering goods, fabrics, garments, chemicals, ceramics, glass products, leather goods, newspapers, periodicals, silk items, made ups, wool products, tubes, pipes etc.
Increase in MEIS rates –
Rates of 575 product items falling under 11 products categories have been increased. These product include products of iron and steel, handicrafts, moulded and extruded goods, rubber, ceramic, glass, auto tyres and tubes, industrial machinery engineering items, IC Engines, machine tools / parts, items of wood, paper, stationary, footwear, auto seats, steel furniture, prefabs, items under the category of butter, ghee and cheese, dried egg albumin and rubber products
[DGFT Public Notice No. 32 dated 22nd September 2016]
Effect of Public Notice:- Additions/Amendments in Table 2 [Containing ITC (HS) code wise list of products with rewards rates] of Appendix 3B Under the Merchandise Exports from India Scheme (MEIS) are notified.
Subject: Merchandise Exports from India Scheme (MEIS)- Additions/ amendments in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B
In exercise of powers conferred under paragraph 1.03 of the Foreign Trade Policy 2015-2020, the Director General of Foreign Trade hereby makes the following additions/amendments in Table 2 [containing ITC (HS) code wise list and description of goods with reward rates under MEIS] of Appendix 3B (notified through Annexure to Public Notice No.2 dated April 1, 2015 and amended through Public Notice No.27 dated July 14, 2015, Public Notice No.28 dated July 16, 2015, Public Notice No.44 dated October 29, 2015, Public Notice No.6 dated May 4, 2016 and Public Notice No.26 dated August 26, 2016):