Export incentives under Merchandise Exports from India (MEIS) have been increased by 2% across the board for labour-intensive MSME sectors. The move comes at a time when India’s shipments shrank in October — the first after 14 consecutive months of positive growth — due to the impact of the Goods and Services Tax (GST). The FTP for the period 2015-2020 had set an ambitious target of $900 billion for India’s exports of goods and services by 2019-20. He further stated that input tax credit and integrated goods and services tax (IGST) refunds for exporters were being expedited. Further, incentives under Services Exports from India Scheme (SEIS) have also been increased by 2% leading to additional annual incentive of ₹1,140 crore.

Source: The Hindu December 05, 2017 18:33 UTC