The export norms have been simplified to a great extent in the export policy (2015-20), which was announced by the Ministry of Commerce on April 1, in New Delhi. And this was done keeping in mind the new entrepreneurs and first-time exporters, said Joint Director General of Directorate General of Foreign Trade P.K. Ghosh.
According to him, the incentive schemes such as Vishesh Krishi Gramin Udyog Yojana, Focus Market Scheme, Focus Product Scheme and Market-Linked Focus Product Scheme, have been brought under one head called Merchandise Export from India Scheme (MEIS).
He also said that the net foreign earnings (NFE) were brought under Service Export from India Scheme (SEIS) for incentives.
Mr. Ghosh said that the advance authorisation schemes were also simplified and about 250 countries brought under the MEIS fold, under three categories.
The Joint Director General of DGFT said that unlike in the earlier policies where Exim Scrips could be redeemed only under custom duty, the present policy enables the exporters to redeem them under service tax and excise duty.
