NEW DELHI, Sept. 30 (Xinhua) -- The Indian government on Tuesday extended its flagship export incentive scheme, the Remission of Duties and Taxes on Export Products (RoDTEP), until March next year, officials said.
A notification issued by the federal commerce and industry ministry's directorate general of foreign trade (DGFT) announced the extension of the RoDTEP Scheme for Domestic Tariff Area (DTA) units, Advance Authorization (AA) holders, Special Economic Zone (SEZ) units, and Export Oriented Units (EOUs).
The scheme was scheduled to end on Sept. 30 this year.
"The RoDTEP Scheme shall remain in force and be applicable to exports made from DTA units, AA holders, SEZ units, and EOUs up to March 31, 2026," reads a notification from the DGFT.
The RoDTEP scheme was launched in January 2021. It provides for the refund of taxes, duties and levies, which are incurred by exporters in the process of manufacturing and distribution of goods and not being reimbursed under any other mechanism at the federal, state, or local level.
Currently, the RoDTEP covers more than 10,000 products, ranging from agriculture and textiles to engineering goods.
Reports said the decision comes following calls from exporters for financial support after the United States slapped 50 percent tariffs on Indian goods. ■
