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News: The Ministry of Commerce has revised the rates upward under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme for 65 HS codes in the textile and apparel sector
Views: The rates have been enhanced for several products including denim, polyester staple fibre spun yarn. The rate and value cap for viscose rayon spun yarn has gone up from 0.9% to 2.5 % with a value cap of Rs 6 per kg. RoDTEP for woven fabrics of artificial staple fibre has been increased from 1.2% to 2.5%. The enhanced RoDTEP rates would boost the exports and align with the Production Linked Incentive Scheme announced by the government thereby enhancing the global competitiveness of Indian textiles and clothing products
Impact: Positive