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The Indian government s decision to extend export benefits under the RoDTEP scheme until June 2024 will have a positive impact on domestic manufacturing, exports, and job creation, according to Sanjay Budhia, Chairman of the CII national committee on EXIM. The scheme provides refunds for taxes, duties, and levies incurred by exporters in the manufacturing and distribution process. Budhia believes this move will boost exports, generate employment, and help establish India as a global manufacturing hub. ....
CII national committee on EXIM Sanjay Budhia said that since all exports and imports and settlement of trade transactions under this arrangement may be denominated and invoiced in INR, this would also reduce dependence on the US Dollar and would address situations like scarcity of forex reserves apart from strengthening regional currency and trade. ....