Merchandise Exports from India Scheme was launched in which of the following years?
2015
The question asks about the launch year of the Merchandise Exports from India Scheme (MEIS).
MEIS was launched in 2015 under the Foreign Trade Policy 2015-20 by the Ministry of Commerce and Industry.
It merged five earlier export-incentive schemes into a single scheme to promote the export of notified goods from India.
Under MEIS, exporters were given duty-credit scrips as a reward, calculated as a percentage of the FOB value of exports, which could be used to pay various duties.
The scheme was later replaced by the RoDTEP (Remission of Duties and Taxes on Exported Products) scheme, as MEIS was found to be inconsistent with WTO norms.
The years 1998, 2002 and 2019 are incorrect because MEIS specifically began with the 2015 Foreign Trade Policy.
Hence, the Merchandise Exports from India Scheme was launched in 2015.
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