The RoDTEP scheme is a significant initiative by the Indian Government to promote exports and support the growth of MSMEs and the EXIM sector. With the refund of various duties and taxes paid by exporters, the scheme will reduce the cost of exports and make Indian products more competitive in the International Market. It will also improve the cash flow of MSMEs and reduce the working capital requirements, promoting Entrepreneurship and Innovation in the EXIM sector.
The scheme will replace the existing MEIS scheme and will cover all export products, including Textiles and Handicrafts. It will be implemented from January 1, 2022, and is expected to benefit around 98% of Indian exporters.
Exporters who wish to take advantage of the scheme must first register themselves with the DGFT and obtain an RCMC. After registration, they must submit a declaration to the customs department specifying that the goods are eligible for RoDTEP benefits.
However, the scheme is not without its challenges. The implementation of the scheme will require significant administrative and logistical efforts, and there may be concerns about the effectiveness of the scheme in achieving its objectives.
Overall, the RoDTEP scheme is a step in the right direction for promoting exports and supporting MSMEs and the EXIM sector in India. It has the potential to boost the overall performance of the sector and make Indian products more competitive in the Global Market.
