MEIS for two subsectors of Textiles Industry

textile industry

The Directorate General of Foreign Trade (DGFT) has issued Public Notice no. 42 today 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 the 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 incentivize the exports of labor-intensive sectors of readymade garments and made-ups and contribute to employment generation.

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.