On Tuesday, incentives to boost exports gained consciousness of worth Rs 8,450 crore and employment in labour-intensive sectors in the mid-term review of the 5-year foreign trade policy (FTP) that was rolled out in 2015.

Incentives have been rolled out under the Merchandise Export from India Scheme (MEIS) and have been raised from 2% to 4% for leather, textiles, agriculture products and carpets.

To overcome the capital blockage of exporters, the government plans an e-wallet from April 1, 2018.

The Centre has allowed duty-free imports for exports against self-certification and raised the validity for duty credit scrip to 24 months. The scrips are incentives used by exporters to pay customs duties.

Source: Economic Times