Govt announces Incentives to boost exports

New Delhi Dec 5: The Union government in yet another move to boost exports has announced some incentives.This decision was taken after the government has reviewed the foreign trade policy in its mid-term.

# The incentives provided under the Merchandise Exports from India Scheme (MEIS) have been increased to 4 percent from 2 percent.

# The incentives provided under Services Export from India Scheme (SEIS) have been raised by 2 percent.

# The labor incentives for small businesses has been also raised by 2 percent.

# Export sops for labor-intensive, MSME products have been increased to 2 %.

Hasmukh Adhia, finance secretary, said that "Have given extra monetary benefit of Rs 8,500 crore for labour-intensive exports.Also, given additional 2% under MEIS for labour-intensive exports. Govt has agreed to forego Rs 8,500 cr to boost exports ."

Experts said that the new incentives would boost exports to Latin America and Africa.sources said that the review which was expected to come out earlier this year but was delayed because of the implementation of GST in July.