Govt likely to extend benefits to exporters under MEIS till March 31

The decision to extend MEIS benefits is expected to draw the biggest cheer from the industry

The government may extend benefits to exporters under the Merchandise Exports from India Scheme (MEIS) till March 31 next year, when the updated Foreign Trade Policy (FTP) 2020-2025 will go live. The current deadline for the scheme to be disabled is December 31, 2019.

The government is also considering key suggestions such as introduction of industry rates for deemed exports and removal of pre-import conditions requirement in the Self Ratification Scheme. The suggestions have emerged out of hundreds of meetings between the government and industry associations, people in the know, said.

Adding an array of agricultural products in the interest