Related Keywords: 150 crore, adverse impact of GST, cost the exchequer, declined by nearly 40 percent, during current financial year commerce department, Export of ready-made garments, government to boost, help manufacturers tide over, made-ups, move on MEIS expected, provide thrust to shipment, ready-made garments, shade under Rs 1, to USD829 million in October
The export of ready-made garments had declined by nearly 40% to $829 million in October. The move on MEIS is expected to cost the exchequer a shade under Rs 1,150 crore during the current financial year and Rs 685 crore in 2018-19, the commerce department said.
The government to boost to ready-made garments and made-ups to help manufacturers tide over the adverse impact of GST and provide a thrust to shipments of these two major segments of the textiles sector on Friday enhanced incentive rates under the Merchandise Exports from India Scheme (MEIS) to 4%, a source said.
