India wins bids
Shock came in July as India’s revenue department decided to cap the MEIS scheme at RUP 90 crore (USD 120m) for April-December. Implemented in 2015, the scheme offers benefits to exporters in the form of 2%, 3% or 5% free foreign exchange. While the benefits clearly profit the exporters, the scheme has recently come under scrutiny since a tangible growth in exports has so far failed to materialise. In addition, the scheme is due to end at the end of the year.
Sesame seed exporters in India gave a sigh of relief as the government decided