Merchandise Exports From India Scheme Online Registration

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Merchandise Exports From India Scheme Benefits | Merchandise Exports From India Scheme Eligibility | Merchandise Exports From India Scheme Documents Required | How To Apply For Merchandise Exports From India Scheme Online | Merchandise Exports From India Scheme Online Registration: The Merchandise Exports from India Scheme (MEIS) is a government-backed scheme that aims to promote India’s exports of manufactured and agricultural goods. The scheme is administered by the Directorate General of Foreign Trade (DGFT) and provides financial incentives in the form of duty credit scrips to exporters of eligible goods. The scrips can be used to pay customs duty on imported goods or can be traded. The main objective of the MEIS is to increase exports and to make Indian products more competitive in the global market.

Merchandise Exports From India Scheme Online Registration

The MEIS covers a wide range of products including agricultural, marine, handicrafts, textiles, engineering goods, leather and many more. The incentives are provided as a percentage of the realized export value of the product, and vary depending on the product and the country of destination. The MEIS is subject to certain terms and conditions such as export performance requirement, Minimum Landed Value (MLV) and export obligation.

MEIS scheme is part of the Foreign Trade Policy of India, which is reviewed every five years, and is implemented through the Foreign Trade (Development and Regulation) Act, 1992. The scheme is intended to be a short-term measure to promote exports while the long-term measures are being implemented.

Merchandise Exports From India Scheme Objective:

The main objectives of the Merchandise Exports from India Scheme (MEIS) are:

  1. To increase India’s exports of manufactured and agricultural goods by providing financial incentives in the form of duty credit scrips to exporters of eligible goods.
  2. To make Indian products more competitive in the global market by providing financial support to exporters.
  3. To promote exports of specific sectors and regions that have comparative advantage and potential for export growth such as agricultural, marine, handicrafts, textiles, engineering goods, leather and many more.
  4. To boost employment and economic growth in the country by promoting exports.
  5. To diversify India’s export basket and increase exports to new markets.
  6. To improve the balance of trade and reduce India’s trade deficit.
  7. To support the development of small and medium enterprises (SMEs) involved in export activities.
  8. To promote the development of infrastructure and logistics facilities for exports.
  9. To increase the value of exports by encouraging the export of higher-value goods and services.
  10. To reduce the dependence on traditional markets and increase exports to new and emerging markets.
  11. To support the development of sector-specific clusters and specialized zones for export-oriented industries.

Merchandise Exports From India Scheme Main key Features:

The main features of the Merchandise Exports from India Scheme (MEIS) are:

  1. Financial Incentives: Exporters of eligible goods can receive financial incentives in the form of duty credit scrips. These scrips can be used to pay customs duty on imported goods or can be traded.
  2. Wide range of products covered: The MEIS covers a wide range of products including agricultural, marine, handicrafts, textiles, engineering goods, leather and many more.
  3. Incentives vary by product and destination: The incentives provided under the scheme are based on the realized export value of the product and vary depending on the product and the country of destination.
  4. Subject to terms and conditions: The MEIS is subject to certain terms and conditions such as export performance requirement, Minimum Landed Value (MLV) and export obligation.
  5. Implementation through Foreign Trade Policy: The scheme is implemented through the Foreign Trade Policy of India, which is reviewed every five years.
  6. Short-term measure: The scheme is intended to be a short-term measure to promote exports while the long-term measures are being implemented.
  7. Online application and claim submission: Exporters can apply and claim their incentives online through the DGFT’s website.
  8. Transparency and ease of access: The DGFT maintains an online database of the scrips issued and the claims made under the scheme, making it more transparent and easily accessible.
  9. Support to SMEs: The scheme supports the development of small and medium enterprises (SMEs) involved in export activities.
  10. Diversification of export basket and new markets: The scheme aims to diversify India’s export basket and increase exports to new markets.
  11. Support to infrastructure and logistics: The scheme promotes the development of infrastructure and logistics facilities for exports.
  12. Support to sector-specific clusters: The scheme supports the development of sector-specific clusters and specialized zones for export-oriented industries.

Benefits of Merchandise Exports From India Scheme:

The Merchandise Exports from India Scheme (MEIS) offers a number of benefits for exporters, including:

  1. Financial incentives: Exporters can receive financial incentives in the form of duty credit scrips, which can be used to pay customs duty on imported goods or can be traded.
  2. Increased competitiveness: The financial incentives provided under the scheme can help make Indian products more competitive in the global market.
  3. Increased exports: The scheme aims to increase India’s exports of manufactured and agricultural goods.
  4. Boosting employment and economic growth: By promoting exports, the scheme aims to boost employment and economic growth in the country.
  5. Diversification of export basket: The scheme aims to diversify India’s export basket and increase exports to new markets.
  6. Improved balance of trade: The scheme aims to improve the balance of trade and reduce India’s trade deficit.
  7. Support to SMEs: The scheme supports the development of small and medium enterprises (SMEs) involved in export activities.
  8. Support to infrastructure and logistics: The scheme promotes the development of infrastructure and logistics facilities for exports.
  9. Support to sector-specific clusters: The scheme supports the development of sector-specific clusters and specialized zones for export-oriented industries.
  10. Online application and claim submission: Exporters can apply and claim their incentives online through the DGFT’s website.
  11. Transparency and ease of access: The DGFT maintains an online database of the scrips issued and the claims made under the scheme, making it more transparent and easily accessible.
  12. Encourage to export to new and emerging markets: The scheme encourages to reduce the dependence on traditional markets and increase exports to new and emerging markets.
  13. Support to value-added exports: The scheme aims to increase the value of exports by encouraging the export of higher-value goods and services.

Merchandise Exports From India Scheme Criteria and Eligibility:

The Merchandise Exports from India Scheme (MEIS) has certain criteria and eligibility requirements that exporters must meet in order to access its benefits. The main criteria and eligibility requirements are:

  1. The exporter should be a legal entity engaged in export of eligible products.
  2. The exporter should have a valid IEC (Import Export Code) number issued by the DGFT.
  3. The exporter should have a valid registration certificate with the concerned Export Promotion Council (EPC)
  4. The exporter should have exported the eligible products to the specified countries or regions during the period for which the claim is being made.
  5. The exporter should have a valid shipping bill and bill of export for the products exported.
  6. The exporter should have fulfilled the export performance requirement and Minimum Landed Value (MLV) as specified for the product.
  7. The exporter should have fulfilled the export obligation if any, as specified for the product.
  8. The exporter should have a valid certificate of origin for the products exported.
  9. The exporter should have a valid invoice for the products exported.
  10. The exporter should have a valid export contract or letter of credit for the products exported.
  11. The exporter should have a valid certificate of inspection or testing, if required for the products exported.
  12. The exporter should have a valid certificate of compliance or quality, if required for the products exported.

Note: The export incentives under the MEIS scheme is subject to change as per the Foreign Trade Policy of India, which is reviewed every five years.

How to Apply for Merchandise Exports From India Scheme Online Registration:

To apply for the Merchandise Exports from India Scheme (MEIS), exporters must first register on the DGFT’s website (dgft.gov.in) and create a login ID. Once logged in, exporters can then proceed with the online registration process, which involves filling out an application form and submitting the required documents. The process is as follows:

  1. Go to the DGFT’s website (dgft.gov.in)
  2. Click on the ‘MEIS’ tab on the homepage
  3. Click on the ‘Apply for MEIS’ button
  4. Fill out the registration form with the required details, including the name of the exporter, IEC number, EPC registration number, and email address
  5. Upload the required documents, including the shipping bill, bill of export, and certificate of origin
  6. Click on the ‘Submit’ button to complete the registration process
  7. After submitting the application, the exporter will receive an acknowledgement receipt, which should be kept for future reference.
  8. The exporter can then claim the incentives by logging in to the DGFT’s website and filling out the claim form, along with the required documents.

Note: The DGFT maintains an online database of the scrips issued and the claims made under the scheme, making it more transparent and easily accessible for the exporters.

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