The government Monday announced that it has restored the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme benefits for units operating under Advance Authorisation, Export Oriented Units (EOUs), and Special Economic Zones (SEZs), with effect from June 1, 2025.
The RoDTEP scheme aims to refund taxes and duties that are not rebated under any other scheme and benefit rates range between 0.3-4.3%.
“This positive step will go a long way in improving the global competitiveness of Indian exporters operating under these key export promotion schemes, said S C Ralhan, President, Federation of Indian Export Organisations (FIEO).
The existing RoDTEP benefits for these entities are applicable only up to February 6, 2025.
The restoration of RoDTEP benefits to Advance Authorisation, EOU and SEZ exporters will not only ensure level playing field for these entities but also boost price competitiveness of their products in international markets.
“This is a vital support at a time when Indian exporters are navigating intense global competition and demand uncertainties. It will certainly help in pushing exports and improving India’s share in global trade,” Ralhan said.
The support to exports comes amid India’s merchandise exports rising a six-month high of 9.03% year-on-year to $38.49 billion in April and India negotiating free trade agreements with the US and the EU. India and the UK have already announced the conclusion of an FTA.