Mobile phone makers, MAIT urge govt to reinstate MEIS; seek tax rationalisation

NEW DELHI: Mobile handsets and electronics makers met finance minister Nirmala Sitharaman on Monday and urged her to reinstate the Merchandise Exports of India Scheme (MEIS), provide clarity on export incentives and rationalise the tax structure.

The pre-budget consultations were attended by industry bodies like ICEA, MAIT, NASSCOM, Telecom Equipment Manufacturers Association (TEMA), and representatives of Apple, Lava International and Reliance Jio.

They said the reduction in export incentives will have a negative impact on investments in the sector and will lead to massive job losses. The government recently reduced export incentives under MEIS on mobile handsets from 4% to 2%.