THE PRIEST

The Government of India has announced a new Foreign Trade Policy for the period 2015-2020 on 1st April, 2015. The important measures taken by the Government in the Foreign Trade Policy 2015-2020 to include ‘Make in India’ and ‘Digital India’ programmes and to ease the trade are: A. SIMPLIFICATION & MERGER OF REWARD SCHEMES 1. Merchandise Exports from India Scheme (MEIS) (a) Earlier there were 5 different schemes (Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY) for rewarding merchandise exports with different kinds of duty scrips with varying conditions (sector specific or actual user only) attached to their use. Now all these schemes have been merged into a single scheme, namely Merchandise Export from India Scheme (MEIS) and there would be no conditionality attached to the scrips issued under the scheme. (b) Rewards for export of notified goods to notified markets under ‘Merchandise Exports from ...