1. Home >
  2. Export Import News >
  3. Export News >
  4. Partial revival of export sops cheers spice traders >
  5. Partial revival of export sops cheers spice traders

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Partial revival of export sops cheers spice traders.

Date: 10-12-2019
Subject: Partial revival of export sops cheers spice traders
Kochi: The Centre has partially restored the merchandise export of India scheme (MEIS) incentive much to the relief of the spice exporters of the country, whose margins were hit after its discontinuance from August.

“They have decided to extend it till December 31. We hope to get the pending amounts from August,’’ said Rajiv Palicha, chairman of All India Spices Exporters Forum, adding that the decision came last weekend. The spices industry suffered about 30-40 per cent drop in export in the last few months following the sudden withdrawal of MEIS.

India exports around Rs 18,000 crore worth of spices every year. When contacted, Spices Board secretary D Sathyan also confirmed the news. MEIS was introduced in 2015 to help spices exporters earn duty credits ranging from 2-7 per cent. Rewards under the scheme are payable as percentage of realised free-onboard value and MEIS duty scrips can be transferred or used for payment of a number of duties including basic customs duty.

“In the last four months we have shipped without incentives as we are committed to send consignments at rates fixed earlier, suffering a loss in the process,’’ said U Karthik, partner of Asian Spices.

The decision to discontinue MEIS by director general of foreign trade from August 1was sudden and took the industry by surprise. Both the Spices Board and the exporters had taken up the matter with the commerce ministry saying that the decision eroded India’s competitiveness in the international market.

Now they are again facing an uncertainty. “We don’t know whether the incentive scheme will be continued next year,’’ Palicha said.

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 20-01-2020
A.P. (DIR Series) Circular No.17
Introduction of Rupee derivatives at International Financial Services Centres (IFSC)

Date: 17-01-2020
TRADE NOTICE NO. 46/2019-20
Mis-classification goods under 'Others' category at the time of Import- reg.

Date: 16-01-2020
Notification No.05/2020 - Customs (N.T.)
Exchange Rates Notification No.05/2020-Custom (NT) dated 16.01.2020.

Date: 15-01-2020
Notification No. 03/2020- Customs (N.T.)
Notification of Ghasuapara LCS for imports also by amendment of Notification No. 63/1994-Customs dated 21st November 1994

Date: 15-01-2020
Notification No. 04/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver - reg.

Date: 15-01-2020
Circular No 03/2020-Customs
Implementation of PGA e-SANCHIT– Paperless Processing under SWIFTUploading of Licenses/Permits/Certificates/Other Authorizations (LPCOs) by PGAs – reg

Date: 15-01-2020
A.P. (DIR Series) Circular No. 16
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment

Date: 14-01-2020
PUBLIC NOTICE No. 56/2015-2020
Amendments in Standard Input Output Norms (SION) of Engineering Product group: Suspension of SION C-888 - reg

Date: 14-01-2020
Notification No. 4/2020-Customs (N.T./CAA/EXTENSION/DRI)
Appointment of CAA by DGRI

Date: 13-01-2020
Notification No. 05/2020 – Central Tax
Seeks to appoint Revisional Authority under CGST Act, 2017.

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001