(FE)
The commerce ministry has initiated action against 1,271 companies for misusing facilities under the export promotion scheme during the last three years, commerce minister Piyush Goyal said. In a written reply to the Lok Sabha, Goyal said the companies that have misused the system have been denied further facility under the export promotion scheme.
Their importer-exporter code has been cancelled/suspended, financial penalty imposed, and recovery proceedings initiated, the minister added. However, he didn’t elaborate on the exact nature of the misuse. In a separate reply, Goyal said that about 268 units have come up during last 4-5 years (against two units in 2014), which are manufacturing mobile handsets and sub-assemblies/parts/components in the country.
