Statement by Mr Chandrajit Banerjee, Director General, CII on Announcement of RoDTEP Rates

New Delhi: Welcoming  the announcement of Remission of Duties and Taxes on Export Products (RoDTEP) rates by the Government,  Mr Chandrajit Banerjee, Director General,  CII, said,  “This would help the exporters to factor in the rates while finalizing new orders and contracts and would go a long way in further boosting exports of the country.

At a time when geopolitics and the post pandemic impact of COVID-19 are transforming global trade and investment, India’s mission mode endeavour to achieve the US$ 400 billion in exports this year will be supported by this scheme.”

Mr Banerjee further added that, “The move of extending the RoDTEP Scheme with effect from 1 January 2021 for different sectors at the different rates of 0.5%, 2.5% and 4%, will allow traders to take advantage of the global tailwinds. Going forward, this Scheme will make the Indian exporters more cost-competitive and create a level playing field for them in the international market.”

“We compliment the Government for introducing a series of reform measures for facilitating trading across border, which has been continuously reducing the time, money and compliance burden for doing exports and imports. The announcement of the RoDTEP rates is another such measure aimed at fostering globally competitive firms and enhancing the export potential of the Indian economy.”, added Mr Banerjee.