Jeera export hit by denial of tax sops
In addition to the termination of tax sops Merchandise Export from India Scheme (MEIS) this August, Indian traders of cumin seeds now fear a shortfall in new jeera crop as incessant rains have delayed sowing. Normally, the sowing of jeera starts after Diwali, in the main growing areas of Gujarat and Rajasthan. Jeera is the second largest exported spice from India earning that earns around INR 2,000 crore annually. China has been buying jeera heavily from India this year.
The All India Spices Exporters Forum has made several appeals to the Centre on MEIS and it reckons that exporters will lose heavily if the benefits are not allowed in full from August.