Indian gov't extends duties remission scheme to support exporters

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Indian gov't extends duties remission scheme to support exporters

STORY: Indian gov't extends duties remission scheme to support exporters DATELINE: Sept. 29, 2023 LENGTH: 00:01:33 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of wholesale market area 3. various of export containers STORYLINE: The Indian government on Tuesday extended support under the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) till June 30 next year at the same rates as the existing export items, according to a statement of the Ministry of Commerce and Industry. "This will help our exporting community to negotiate export contracts in the present international environment on better terms," added the statement. The scheme, which is World Trade Organisation (WTO) compatible, was introduced by the federal government as a duty remission scheme on exports and was implemented with effect from Jan. 1, 2021. It was earlier notified till the end of this month. It provides a mechanism for reimbursement of taxes, duties and levies, which are curre

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