"The revised FTP focuses on... leveraging benefits of GST by exporters; close monitoring of export performances and taking immediate corrective measures based on state-of-the-art data analysis; increasing ease of trading across borders; increasing the realisations from Indian agriculture based exports," the ministry said in the foreign trade policy statement 2017.
The Merchandise Export from India Scheme (MEIS) incentives have been increased by 2 per cent to 4 per cent in the Foreign Trade Policy review on Tuesday. The Services Exports from India Scheme incentives (SEIS) have also been increased by 2 per cent.
"Mid-term review aims to promote exports by simplification of processes,enhancing support to high employment sectors, leveraging benefits of GST, promoting services exports,monitoring exports performance through state-of-the-art analytics," Prabhu added.
Rationalisation of export promotion schemes to continue
Labour incentives for small businesses raised by 2%
Validity for duty credit scrips raised by 24 months
GST to help spur exports growth
Goods which are freely importable are now allowed to be re-exported except SCOMET/Prohibited items
Would enable Indian entities to trade third country goods in restricted list for export
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