Government extends duty incentive to 110 new products
Q. Government has extended duty incentives to how many new products under MEIS on 30th October 2015?- Published on 02 Nov 15a. 80
b. 90
c. 100
d. 110
ANSWER: 110
In response to declining exports, government has extended duty incentives to various products including textiles and electronics to improve rate of shipments. Increased support for numerous products included additional items under the Merchandise Exports from India Scheme. Present revision includes 110 new tariff lines and increased rate or county coverage or both for 2228 existing tariff lines. As per the announcement, under the scheme, government of India has provided duty benefits at 2,3 and 5 percent based upon the product and country. Global support has been given to products such as pharma, project goods, telecom, electronics and railway transport equipment. Contraction for the 10th month in a row, Indian merchandise exports fell at 24.33 percent in September to USD 21.84 billion, due to steep fall in petrol product shipment, iron ore and engineering goods amidst international demand.
