Trade policy boost for MSME exporters
The midterm review of the Foreign Trade Policy (2015-20) has brought in additional relief worth Rs 8,450 crore annually for the labourintensive and MSME sectors. Exporters of labour-intensive items, such as leather and footwear, agriculture and marine products, and handmade carpets, among others, will now be eligible for 2 per cent higher incentives across the board under the popular Merchandise Export from India Scheme (MEIS). Under MEIS, exporters are given duty-exemption scrips that are fixed at a certain percentage of the total value of their exports. The scrips can be used to pay duties on inputs.