Export promotion scheme, shopping fests: FM's new measures to boost exports

Make sense of all the announcements made by Finance Minister Nirmala Sitharaman for the exports sector

Finance Minister Nirmala Sitharaman on Saturday announced new measures to boost exports, at a time when the government is making efforts to reverse the economic slowdown and aims to triple the country's annual exports to over $1 trillion.

Some of the key measures announced by Nirmala Sitharamn are as follows: 

1. Remission of Duties or Taxes on Export Products (RoDTEP), a new scheme announced by Sitharaman, is going to replace the premier Merchandise Exports from India scheme (MEIS) for all goods exported. The MEIS, introduced in 2015 under the Foreign Trade Policy, incentivises merchandise exports of more than 5,000 items