Govt increases MEIS by 2%, manmade-fibre industry disappointed

Earlier, the MEIS rates for garments and made-ups had been increased from 2% to 4%

Cotton textile exporters have welcomed the government’s decision to raise the Merchandise Exports from India Scheme (MEIS) by 2 per cent on labour intensive sectors.

While announcing the mid-term review of the Foreign Trade Policy 2015-20, the government on Tuesday increased MEIS by 2 per cent on all exportable goods including textile products.

Ujwal Lahoti, chairman of The Cotton Textiles Export Promotion Council (Texprocil) said, “The Mid Term Review of Foreign Trade is progressive, growth oriented. The government has recognised the urgent need to address the challenges being faced by the exporters on account of the roll out of the goods