Budget wish list: Electronics and tech industry urges FM to raise MEIS rate

Sector players say Commerce ministry move to halve MEIS to 2% goes against national goal to export 100 million handsets worth $110 billion every year by 2025

The electronics and technology industry is batting for reinstating the Merchandise Exports from India Scheme (MEIS) rate from the current 2 per cent to boost electronics exports from India. 

Industry bodies and companies discussed the issue with Finance Minister Nirmala Sitharaman on Monday, at a meeting held to understand their budget expectations. 

"Our main ask from the government is to restore MEIS. It is a very important incentive scheme for global value chains," said Pankaj Mohindroo, India Cellular and Electronics Association (ICEA) chairman. 

Hardware industry body MAIT's Chief Executive Officer George Paul, who was also present at the meeting with