New Delhi, Jun 26 (KNN) Federation of Indian Exporters' Organisations (FIEO) President Ashwani Kumar has called for increased funding for the Remission of Duties, Taxes on Export Products (RoDTEP) scheme during a recent budget consultation meeting with Finance Minister Nirmala Sitharaman.

Kumar emphasised that zero rating of exports is a crucial government policy that should not be compromised due to budget constraints.

The RoDTEP scheme, launched in January 2021, aims to refund duties incurred during the production and export process.

Currently, the RoDTEP budget for 2024-25 stands at Rs 15,070 crore, with Rs 42,000 crore provided to exporters since its inception.

FIEO stressed the importance of enhancing outlays for the RoDTEP scheme to ensure continued support for exporters.

This appeal comes in light of the government's recent decision to extend RoDTEP benefits to special economic zones and export-oriented units until September 30, citing budgetary allocations.

Kumar's appeal comes amid concerns that fiscal austerity measures could impact export support programs. The FIEO president argued that maintaining zero rating for exports is crucial for India's export competitiveness in the global market.

The Finance Ministry is currently holding budget consultations with various industry representatives to gather input for the upcoming fiscal year's budget planning.

These discussions are part of a broader effort to balance fiscal responsibility with support for key economic sectors, including exports.

(KNN Bureau)