NEW DELHI, Oct 30: Government today announced increase in support measures for the exporters to help them cope with a severe demand slowdown in the key global markets.
The Commerce and Industry Ministry has increased support under the Merchandise Exports from India Scheme (MSIS) for various products . The current revision introduces 110 new tariff lines and increases rates or country coverage or both for 2228 existing tariff lines. These tariff would cover bicycle parts, auto components, IC engines, machine tools which have an impact on the MSMEs, according to an official release. Export bodies like EEPC India have welcomed the move, stating some relief would be forthcoming with these measures. ?The enhancement of support under the Merchandise Exports from India Scheme (MEIS) is timely. The EEPC India will continue to work with the Commerce and Finance Ministries to ensure that the pain for the exporters is reduced,? EEPC India Chairman Anupam Shah said. India?s merchandise exports during September, 2015 were valued at 21844.98 million dollar which were 24.33 per cent lower from a year ago period.
(UNI)
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