Search Global Export Import Trade Data
Recent Searches: No Recent Searches

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: 02-12-2021
Notification No.96/2021 - Customs (N.T.)
Exchange rates Notification No.96/2021-Cus (NT) dated 2.12.2021

Date: 30-11-2021
Notification No. 95/2021-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 25-11-2021
Notification No.94/2021 - Customs (N.T.)
Exchange rates Notification No.94/2021-Cus (NT) dated 25.11.2021

Date: 24-11-2021
Notification No.93/2021 - Customs (N.T.)
Exchange rates Notification No.93/2021-Cus (NT) dated 24.11.2021

Date: 18-11-2021
Notification No.92/2021 - Customs (N.T.)
Exchange rates Notification No.92/2021-Cus (NT) dated 18.11.2021

Date: 15-11-2021
Notification No. 91/2021-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 03-11-2021
Notification No.90 /2021 - Customs (N.T.)
Exchange rates Notification No.90/2021-Cus (NT) dated 03.11.2021

Date: 03-11-2021
Notification No.52 /2021-Customs
Seeks to amend Notification No. 18/2019-Customs reducing Road and Infratructure Cess (RIC) on Petrol and Diesel.

Date: 29-10-2021
Notification No.88/2021 - Customs (N.T.)
Exchange rates Notification No.88/2021-Cus (NT) dated 29.10.2021

Date: 29-10-2021
Public Notice No. 32/2015-2020
Amendment in Para 2.76 of Handbook of Procedures (HBP) of the Foreign Trade Policy (FTP) 2015-20 regarding export of SCOMET items from DTA to SEZ/EOU and outside the country

Exim Guru Copyright © 1999-2021 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 InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001