Centre looking at electronics makers’ plea for restoration of MEIS incentives

The Centre is considering a request made by the electronics sector to restore the incentive under the popular Merchandise Exports from India Scheme (MEIS) to 4 per cent from the current 2 per cent.

Various segments of the industry, including cellular phone manufacturers, have submitted to the government that the reduction in MEIS rates, implemented from January 1, 2020, will hit exports and investments.

“The proposal for restoring MEIS rates for electronics is being considered by the Prime Minister’s Office (PMO). There is a possibility that the demand may be met just for the electronics sector and not the others who have also been affected by the paring down of rates,” a government official told BusinessLine.