Incentives to enhance exports competitiveness: FIEO

Exporters body FIEO today said incentives extended by the government would help in enhancing the competitiveness of domestic players and boost outbound shipments.
The government today extended fiscal incentives to more items such as marine products at higher rates under a scheme with a view to boosting exports, which remain in the negative zone.
Expansion of the Merchandise Exports from India Scheme (MEIS) "will give exporters added competitiveness to face the increasing global challenges," Federation of Indian Export Organisations (FIEO) said in a statement.
It said that the changes cover agricultural products including marine and industrial goods such as pipes and tubes, machinery, engines, machine tools, textiles and garments, leather goods, handicrafts, glass and ceramics goods which will give a fillip to job creation as well.

Contracting for the second month in a row, India's exports in August dipped 0.3 per cent to USD 21.51 billion, owing to decline in shipments of products like petroleum and leather.