Duty refund scheme may be extended beyond September

Govt is hoping to extend the duty remission scheme for exporters beyond Sept, but a decision on interest subvention is awaited in the absence of a finance ministry nod, as per a TOI report.

TOI Sources said the duty refund scheme or RoDTEP is likely to continue in its existing form as govt seeks to ensure that exports stay competitive and are not burdened by levies.

On Wednesday, the commerce department sought to bridge the information gap through Trade Connect ePlatform that will provide detailed information on global demand of a product, country-wise trade information, global standards, market access conditions, compliance requirements and forge connections with international buyers.

“It will be a ChatGPT for exporters… We want entrepreneurs to grow in the trade business. Unless and until, we have entrepreneurs, the dream of $2 trillion exports of goods and services (by 2030) will be difficult to achieve,” said commerce secretary Sunil Barthwal.

Commerce and industry minister Piyush Goyal said it will act as a one-stop solution for all kinds of information like duties, rules, and regulations.