MEIS rate hike to benefit Indian agri exporters marginally

Solvent Extractors' Association wants incentives on oilmeals to be hiked further; seeks inclusion of groundnut meal and cottonseed linter in MEIS

To boost commodities’ exports from India, the government on Friday raised incentives on a majority of agricultural products by 3 per cent to make them competitive in global markets.

The Directorate General of Foreign Trade (DGFT) in a circular on Friday raised the Merchandise Export from Indian Scheme (MEIS) from 7 per cent to 10 per cent on a number of agri commodities, including dairy products and soybean meal. The same circular also brings in a number of other commodities under the MEIS net.