The government today increased the rate of export incentive under a scheme for dried onions to 5 per cent, a move aimed at boosting shipments of this agri commodity.
"The rate of rewards under Merchandise Exports from India Scheme (MEIS)" for dried onions "is enhanced to 5 per cent from earlier 3 per cent with immediate effect," the directorate general of foreign trade said in a public notice.
Under MEIS, the government provides duty benefits depending on product and country.
Rewards under the scheme are payable as percentage of realised free-on-board value and MEIS duty credit scrip can be transferred or used for payment of a number of duties including the basic customs duty.
In 2016-17, the countries exported dried onion worth USD 82.83 million during April-February 2017-18.
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