Incentive push for exports likely to boost employment

Industry players laud the mid-term review of foreign trade policy

Export associations and industry players largely lauded the mid-term review of India’s foreign trade policy released on Tuesday, saying the policy revisions would boost labour-intensive sectors.
 
Across most categories of manufactured products and services, a 2 per cent increase in incentives under the Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS) would give more breathing space to exporters, increase competitiveness, and improve employment, they observed.
 
“The increase in the MEIS rates for labour-intensive sectors, such as leather, handicraft, carpets, tools, marine, medical and scientific products and services, such as accountancy, architecture, legal, education,