Throwing light on the sectoral advantages in India, the report added that India has inherent strength in some sectors like chemicals, pharmaceuticals, automotive, electrical and electronics, industrial machinery, and textiles.
Exporters fear closure due to obscure new tax refund rates
Exporters organisation FIEO pointed out that the new scheme provides refund of all taxes and duties hitherto not refunded through any other mechanism and hence should not be limited to the budget constraints
Joe C Mathew | February 10, 2021 | Updated 19:33 IST
Federation of Indian Export Organisations (FIEO) has asked the central government to announce the rates that are applicable for various export goods under the newly announced Remission of Duties and Taxes on Exported Products (RoDTEP) scheme. The apex body of exporters also expressed concern over the budgetary allocation of Rs 13,000 crore for the new scheme as it is much less compared to the amount government used to refund under an earlier scheme - Merchandise Export from India Scheme (MEIS) - that got replaced with RoDTEP on January 1, 2021. The government had projected RoDTEP as a Rs 50,000 crore scheme that will reimburse exporters all the taxes and duties they