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Incentive on Merchandise Exports Scheme for Readymade Garments Gets an Update from DGFT
The Directorate General of Foreign Trade (DGFT) has issued Public Notice no. 42 by which rates for incentives under the Merchandise Exports from India Scheme (MEIS) for two subsectors of Textiles Industry, that is readymade garments and made ups have been enhanced from two percent to four percent of value of exports with effect from 01.11.2017 till 30.06.2018.
The estimated annual incentives will be Rs. 1,143.15 crore for 2017-18 and Rs. 685.89 crore for 2018-19. This measure will incentivise the exports of labour intensive sectors of readymade garments and made ups and contribute to employment generation.
