New FTP simplifies and merges all merchandise incentive schemes
Shakti Shankar Patra | The Dollar Business In a much needed simplification procedure, the Modi Sarkar has merged all existing merchandise export incentive schemes like Focus Market Scheme (FMS), Focus Product Scheme (FPS), Market Linked Focus Product Scheme (MLFPS), Vishesh Krishi & Gram Udyog Yojana (VKGUY) and Agri Infrastructure Incentive Scheme (AIIS) to come up with a single Merchandise Exports from India Scheme (MEIS). Part of the much-awaited and much-delayed Foreign Trade Policy (FTP) that was released at Vigyan Bhawan in New Delhi on Wednesday, MEIS, essentially, tells an exporter that a product, when exported to a particular country, will fetch a certain percentage of the FOB value. This does away with the need to keep a constant eye on ...
