AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYYes
Tax-based export incentive
On 1 April 2015, the Indian Ministry of Commerce and Industry announced the new Foreign Trade Policy 2015-2020 and within it introduced the Merchandise Exports Incentive Scheme (MEIS) for providing incentives on exports of goods.
In its original form, notified via Public Notice 2, the MEIS includes more than 4'900 products. The incentive available for each product depends on the export destination. The destination group B includes 139 countries. For countries in this group, MEIS includes export incentives for a total of 4352 products. The HS codes included in this intervention refer to products eligible for export incentives to these countries. Please see the further interventions under this state act for details on the incentives to the other country groups.
Group B consists of Algeria, Angola, Antigua, Argentina, Armenia, Azerbaijan, Bahamas, Bahrain , Barbados, Belarus, Belize, Benin, Bermuda, Bolivia, Botswana, British Virgin Islands, Brazil, Brunei, Burkina Faso, Burundi, Central African Republic, Cambodia, Cameroon, Canary Island, Cape Verde Island, Cayman Island, Chad, Chile, China PRP, Colombia, Comoros, Congo Democratic Republic, Congo Republic, Costa Rica, Cote D' Ivoire, Cuba, Djibouti, Dominic Rep, Dominica, Ecuador, Egypt , El Salvador, Equatorial Guinea, Ethiopia, Falkland Island, French Guiana, Gabon, Gambia, Georgia, Ghana, Grenada, Guadeloupe, Guatemala, Guinea, Guinea Bissau, Guyana, Haiti, Honduras, Indonesia, Iran, Iraq, Israel, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Korea Republic South Korea , Kuwait, Kyrgyzstan, Lao PDR, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Malaysia, Mali, Martinique, Mauritania, Mauritius, Mexico, Moldova, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Netherland Antilles, Nicaragua, Niger, Nigeria, Oman, Panama Republic, Paraguay, Peru, Philippines, Qatar, Reunion, Russia, Rwanda, Sao Tome, Saudi Arab, Senegal, Seychelles, Sierra Leone, Singapore, Somalia, South Africa, St Helena, St Kitt N A, St Lucia, St Vincent, Sudan, Suriname, Swaziland, Syria, Taiwan, Tajikistan, Tanzania Republic, Thailand, Togo, Trinidad, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, United Arab Emirates, Uganda, Ukraine, Uruguay, Uzbekistan, Venezuela, Vietnam Socialist Republic, Virgin Island US, Yemen Republic, Zambia, and Zimbabwe.
On 31 March 2020, the Ministry of Commerce and Industry announced that the existing Foreign Trade Policy 2015-2020, which was to expire on 31 March 2020, will be extended till 31 March 2021.
On 15 April 2020, the Ministry of Commerce and Industry notified through Trade Notice 03/2020-21 that the benefits under the MEIS scheme will be available until 31 December 2020, unless the incentive on the product is replaced by the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme.