AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 29 October 2015, the Indian Ministry of Commerce & Industry changed the incentives granted under the Merchandize Exports Incentive Scheme (MEIS). MEIS provides incentives in the form of "duty scrips" which can be used to pay a range of customs or excise duties. Export receive duty scrips worth between 2 and 5% of the export value depending on the product and the destination country. The scrip value may vary across three country groups.
For country group A, the notification from 19 October 2015 added 110 new products to the list of eligible exports plus the existing incentives were increased for 1'336 products.
The countries listed in group A are the European Union members plus the USA i.e. Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, United Kingdom, and United States of America.