Export Incentive

Commerce ministry to extend benefits under RoDTEP scheme to SEZ units

The commerce ministry has decided to extend export benefits under the RoDTEP scheme for companies in the special economic zones (SEZs) and export oriented units (EOUs). This decision was communicated to the Director General of Foreign Trade (DGFT) on February 16. The DGFT may issue a formal notification soon amending the foreign trade policy on the same. "Post rolling out of ICEGATE (Indian Customs Electronic Data Interchange Gateway) in SEZs, the RoDTEP scheme may also be extended to SEZs," according to an office memorandum of the commerce ministry. The government in August 2021, announced the rates of tax refunds under export promotion scheme -- Remission of Duties and Taxes on Exported Products (RoDTEP), for 8,555 products such as marine goods, yarn and dairy items. As SEZs and EOUs were kept out of the scheme in the list notified that time, the industry was demanding to include them in the scheme. Under RoDTEP, various central and state duties, taxes, and levies imposed on in

Govt okays continuation of apparel exports incentive scheme till Mar 2026

The government on Thursday approved the continuation of an export incentive scheme - RoSCTL - for apparel, garments and made-ups up to March 31, 2026. The Rebate of State and Central Taxes and Levies (RoSCTL) scheme is aimed at compensating for the state and central taxes and levies in addition to the rebate provided under duty drawback scheme on export of apparel/garments and made-ups. "The Union Cabinet chaired by Prime Minister Narendra Modi approved the continuation of scheme for RoSCTL for export of apparel/garments and made-ups up to March 31, 2026," an official statement said. It said that the move will provide a stable policy regime which is essential for long-term trade planning, more so in the textiles sector where orders can be placed in advance for long-term delivery. "The continuation of RoSCTL will ensure predictability and stability in policy regime, help remove the burden of taxes and levies and provide level-playing field on the principle that goods are exported a

Centre, state, exporters to discuss ways to boost exports on Jan 16

The Centre, state governments and industry representatives will meet on January 16 to discuss ways to boost the country's exports, an official said. Issues which are expected to figure in the meeting include rupee payment challenges, need of global shipping, and challenges being faced by traders on account of the Red Sea crisis, and uncertain global economic situation due to the Russia-Ukraine war and Israel-Hamas conflict. The meeting will be chaired by Commerce and Industry Minister Piyush Goyal. They all are members of the Board of Trade (BoT). "There are over 135 members of BoT. It is meeting on January 16 at Bharat Mandapam," the official said. Headed by the minister, the board includes participants from various states, Union Territories, and senior officials from the public and private sectors. In the meeting, representatives of export promotion councils present their views on the export sector. The board provides an opportunity to have regular discussions and consultations

Budget 2023: Exporters urge govt for fiscal incentives, lower customs duty

The meeting took place at a time when external demand is waning as exporters are facing global headwinds of high inflation, currency depreciation and geopolitical tensions

Cabinet nod to production-related incentives for electronics manufacturers

Incentives will be linked to incremental sales and capital investment of the companies

Why India lost a major trade dispute with US at World Trade Organization

Outbound trade fell by 6.57 per cent in September, to a three-month low with the trade decline plaguing major foreign exchange earners

Govt reveals slew of measures to increase export credit to 30% in FY20

The commerce department clarified that the ECGC would cover not only outstanding principal of loans but also unpaid interest

Subsidy on interest rates raised for small exporters hit by note ban, GST

This is the latest step after the central bank decided to consider allowing banks to restructure stressed loans to small businesses following persistent demand from the government