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APEC appeals for continuation of MEIS Scheme

APEC has appealed to the government to continue the Merchandise Exports from India Scheme (MEIS) for garment exports as it provides a 4 per cent support to the exporters. The Council wrote to all the MPs from Tamil Nadu and requested them to take up the issue with the Prime Minister and the Finance Minister. The chairman and vice-chairman of AEPC also met 20 MPs in New Delhi and explained the benefits of MEIS for garment exports to them; why it should be continued, and the impact on the exports if the scheme was withdrawn.

The MPs assured the AEPC members they would take up the issue with the government. Raja M Shanmugham, President of Tiruppur Exporters’ Association also supported the AEPC’s member stance. He said that since the apparel industry counters the three major challenges including lack of infrastructure, high interest rates, and delay in India signing Free Trade Agreements, schemes such as MEIS should be continued. He also advised the government to insulate MSMEs from the Basel III norms.

 
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