Boosting Indian Exports: The Impact of the RoDTEP Scheme
The Indian government announced that Rs 15,756.96 crore has been disbursed under the RoDTEP scheme this fiscal, benefiting over 1.11 lakh exporters. The initiative helps refund embedded taxes, keeping Indian exports competitive. Labour-intensive sectors benefit most, while India's export growth to China outpaces import growth.
- Country:
- India
The government unveiled that Rs 15,756.96 crore has been allocated through the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme this fiscal. This strategic move is aimed at bolstering Indian exports by refunding embedded taxes that otherwise go unrebated.
According to Minister of State for Commerce and Industry Jitin Prasada, over 1.11 lakh exporters have benefited from this initiative, which commenced on January 1, 2021. By neutralizing taxes in a WTO-compliant manner, the scheme ensures Indian goods remain competitive globally.
Furthermore, Prasada reported significant growth in Indian exports to China, outstripping the rate of imports. The labour-intensive sectors—textiles, marine, agriculture, chemicals, and engineering—remain primary beneficiaries of the RoDTEP scheme, contributing to employment and export growth.
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