Rates under the RoDTEP scheme will be announced in 15 days, says, Shri Amit Yadav, DGFT, at PHD Chamber’s webinar

No. PR- 034 May 14, 2021 New Delhi Rates under the RoDTEP scheme will be announced in 15 days, says, Shri Amit Yadav, DGFT, at PHD Chamber’s webinar Announcement of the rates under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme will be made in 15 days, said Shri Amit Yadav, IAS, Director General, Directorate General of Foreign Trade (DGFT), Government of India, in a Virtual Interactive Session on the Recent Policy Initiatives by the DGFT organized by the PHD Chamber of Commerce and Industry here today. Shri Amit Yadav stated that as compared to the year 2019, there has been a 16 percent growth in exports for the month of April 2021 primarily due to the contribution from sectors like engineering, gems & Jewelry, petroleum products, drugs and pharma, Ready garments and spices. Shri Yadav mentioned that the situation was completely different last year when there was a complete halt even in the movement of goods and services. He stated that the government this year has restricted the lockdown to curfew in few places to ensure stability in the economy. Shri Yadav explained that the government is working on the ways to reduce the number of compliance issues faced by the industries. He informed that the government has set up a dedicated COVID 19 helpline to resolve the issues faced by the exporters pertaining to the international trade such as custom clearance delays and banking issues. Shri Sanjay Aggarwal, President, PHD Chamber in his remarks stated that the recent measures announced by the Directorate General of Foreign Trade (DGFT), such as, extension of Foreign Trade Policy for 6 months till September 2021, amendments in Covid-19 related export and import, exemptions of custom duties on Remdesivir injections, Covid-19 vaccines & oxygen related equipment and other export promotion schemes are very well timed. Giving his suggestions, Shri Aggarwal mentioned that the Government of India has replaced the Merchandise Exports from India Scheme (MEIS) with a more nuanced RoDTEP scheme with effect from 1st January, 2021. However the MEIS application process for March 2020- December 2020 is still on suspension. This is directly hindering the exports and exporters are struggling to keep their businesses afloat. As several exporters have major portion of their profits in the MEIS, but that being blocked, they are facing liquidity issues. This needs to be addressed as immediately as possible. He explained that SEIS Scheme has still not been extended for the year 2019-20, despite having been announced for. This is blocking funds of many service export organizations and has requested that it should be opened for the year 2020-21. In regard to Duty Exemption Scheme, Shri Aggarwal suggested the simplification of Advance Authorization scheme to help exporters who struggle to get the issuance and redemption. According to Shri Aggarwal, there is also a need to safeguard MSMEs and Iron and Steel Industry from Skyrocketed Steel Prices. At the same time, there is also a need to levy uniform duty on all forms of iron ore exports including pellets. Eminent dignitaries including Mr Anil Aggarwal, Additional DGFT; Mr Vijay Kumar, Additional DGFT; Mr Hardeep Singh; Additional DGFT; Mr Saket Dalmia, Vice President, PHD Chamber; Mr Sanjay Bhatia, Former President, PHD Chamber; Mr Shri Gopal Jiwarajka, Former President, PHD Chamber; Mr Rajeev Talwar, Former President, PHD Chamber; Mr Vishal Dhingra, Chairman, Foreign Trade and Investment Committee (FTIC), PHD Chamber; Mr Nirmal Khandelwal, Co-Chairman, FTIC, PHD Chamber; Mr Sanjay Beswal, Co-Chairman, FTIC, PHD Chamber; Shri Vipin Vohra, Logistics Management Committee & Civil Aviation Committee, PHD Chamber; and Shri D P Goel, Co-Chairman, MSME Committee, PHD Chamber; also participated in the Session. Ends Media Division PHD Chamber of Commerce and Industry