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Wednesday, 04 August 2021 16:22

Delay in announcing RoDTEP rates hurts liquidity and order book: Exporters

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Exporters say, the delay in announcement of the Remission of Duties and Taxes on Export Products (RoDTEP) rates is hurting their liquidity position as they are unable to book fresh orders The RoDTEP scheme was launched on January 1, 2021. However, the government has not yet announced the rates for this scheme. Secondly, the government has also not cleared the Rs 15,000 crore due from the MEIS scheme for the period between April and December 2020.

Exporters have approached finance ministry, commerce ministry, PMO for the clearance of the MEIS dues, and for clarity on RoDTEP rates. However, there is now a new uncertainty on fund reallocation as the government announced ROSCTL scheme for garments segment.. The scheme provides Rs 17,000 crore to clear the pending dues of exporters. In addition, Rs 2,000 crore has been provided to clear the arrears of services exporters for 2019-20 under the now-defunct Service Exports from India Scheme (SEIS).