Ministry/Department : Ministry of Commerce & Industry
Scheme:
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MEIS was launched under Foreign Trade Policy of India (FTP) 2015-20.
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It is one of the two schemes introduced in FP 2015-20, as a part of Exports from India Scheme. The other scheme is Service Exports from India Scheme (SEIS).
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Objective of MEIS is to offset infrastructural inefficiencies and associated costs involved in export of goods and products, which are produced and manufactured in India.
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It seeks to enhance India’s export competitiveness of these goods and products having high export intensity, employment potential.
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Under this scheme, Ministry of Commerce gives duty benefits to several products. It provides duty benefits at 2%, 3% and 5% depending upon the product and country.
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It has three sub components:
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Vishesh Krishi and Gram Udyog Yojana
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Focus Market Scheme
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Focus Product Scheme
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It is being replaced by Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme
Factual Information:
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Launched in 2015