New Delhi [India] May 27 (ANI): Government restoring Remission of Duties and Taxes on exported products is welcomed by the Global Trade Research Initiative (GTRI) but suggested that government must ensure uninterrupted coverage of the scheme for at least five years.
“To position India as a stable and competitive export hub, the government must ensure uninterrupted RoDTEP coverage for at least five years. Frequent policy shifts hurt credibility, weaken trust, and ultimately damage India’s export competitiveness,” GTRI said.
GTRI voiced concerns over the Indian government’s inconsistent approach to the RoDTEP scheme, despite the scheme being compliant to the World Trade Organisation (WTO) norms.
The RoDTEP scheme reimburses exporters for embedded duties, taxes, and levies that are not otherwise refunded under any other existing scheme.
All the above-mentioned categories were allowed to avail RoDTEP benefits until Feb. 5, 2025, but not restored. Now the government has decided to restore it which it says is likely to “provide a level playing field for exporters across sectors,” the Ministry of Commerce and Industry said in a statement. Adding, “The decision comes as part of the government’s sustained efforts to boost India’s export competitiveness in global markets.”
By March 31, under the RoDTEP scheme, the total disbursements crossed Rs.57,976.78 crores, highlighting its important role in supporting India’s merchandise exports.
For the fiscal year of 2025-26, the government of India has allocated a budget of Rs18,233 crore, which is expected to support 10,780 HS lines for Domestic Tariff Area (DTA) exports and 10,795 HS lines for AA/EOU/SEZ exports. This will ensure broad-based coverage for diverse sectors of the economy, the ministry added.
In order to benefit Indian exporters, the government has also launched the Trade Connect e-Platform to act as an information and intermediation platform for international trade, connecting Indian Missions abroad with officials from the Department of Commerce and other organisations to offer comprehensive services to exporters. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
