Government Extends Export Benefits Amid Global Trade Disruptions

The government has extended the RoDTEP scheme, which offers fiscal benefits to exporters, by six months amid global trade disruptions caused by the West Asia crisis. This step aims to support Indian exporters facing increased freight costs and trade risks. The recent West Asia conflict has affected logistics and maritime trade.

The Indian government has announced a six-month extension for fiscal benefits under the RoDTEP scheme, offering relief to exporters amid disruptions in global trade due to the continuing West Asia conflict. The RoDTEP scheme, launched in 2021, facilitates the reimbursement of certain taxes and duties incurred by exporters.

The extension of the scheme, which was set to expire on March 31, is now valid until September 30, 2026. Directed by the Directorate General of Foreign Trade, exports made during the extended period will benefit from existing rates and value caps under the established terms.

The recent crisis in West Asia, triggered by the joint attack of the US and Israel on Iran, has intensified challenges for Indian exporters, exacerbating shifts in maritime logistics and elevating freight costs. In response, the government is restoring rates and value caps to aid exporters while rolling out a new relief scheme, RELIEF, with a Rs 487 crore budget.

(With inputs from agencies.)