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India’s exports dipped by a record 24.57 % in March. It contracted by 4.78 % to USD 314,31 billion in 2019-20

The commerce ministry has clarified that export incentives under Merchandise Export Incentive Scheme (MEIS) will be available to exporters only up to December 31 this year. The government after approving a new scheme – remission of duties and taxes on export products (RoDTEP) – in March this year has stated that MEIS will be phased out after rolling out of this new scheme. Under MEIS, the government provides duty benefits depending on product and country.

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