The government is set to reinstate full benefits under the export support scheme Remission of Duties and Taxes on Exported Products (RoDTEP) starting April 1. This decision, confirmed by the Federation of Indian Export Organisations (FIEO), aims to offer crucial assistance to the export sector amid ongoing global challenges.
FIEO revealed that the Directorate General of Foreign Trade assured the restoration of full rates during a meeting with exporters. Currently reduced rates under the RoDTEP scheme will continue until March 31, 2026, after which the full benefits will be reinstated.
President of FIEO, SC Ralhan, emphasized that the move is expected to alleviate cost pressures and uncertainties faced by exporters in international markets. The government had earlier halved RoDTEP duty benefits for most products on February 23, except for agricultural and processed food items, a decision that left exporters dissatisfied.
The RoDTEP scheme, introduced in 2021, offers refunds on specific taxes, duties, and levies incurred during the production and distribution of goods. These refunds, ranging from 0.3% to 3.9% of the export value, aim to enhance the competitiveness of Indian products globally by reducing the tax burden on exporters.
