New Delhi: The government has taken action against 1,271 companies for misusing facilities under the export promotion scheme in the last three years, the Commerce Ministry said on Wednesday.
The companies have been denied further facilities under the export promotion scheme, their importer-exporter codes (IEC) have been cancelled/suspended, a financial penalty imposed, and recovery proceedings initiated, Commerce and Industry Minister Piyush Goyal said in a written reply to the Lok Sabha.
In a separate reply, he said that according to the information provided by the India Cellular and Electronics Association, about 268 units have come up during last 4-5 years (as against 2 units in 2014), which are manufacturing cellular mobile handsets and their sub-assemblies/ parts/ components in the country.
In 2018-19, exports of electronic items increased to Rs 61,908 crore from Rs 41,220 crore in 2017-18. (With agency input)