In middle of a challenging scenario of exports, the Centre has increased its incentives support under the Merchandise Exports from India Scheme (MEIS) from Rs 22,000 crore to Rs 23,500 crore per annum, said an official statement.
The Department of Commerce raised the range of items covered under the scheme from 5,012 to 7,103.
The 2,901 new products fall under categories like certain marine, traditional medicines and processed cereal products and other value added items of leather articles, suitcases, plastics, etc.
Under the scheme, the Ministry also raised incentives rates of 575 products.
These products fall under 11 categories namely iron and steel, handicrafts, moulded and extruded rubber, goods, ceramic, glass, auto tyres and tubes, industrial machinery engineering items, IC Engines, machine tools, items of wood, paper, stationary, auto seats, footwear etc.