FIEO seeks 24 months validity extension of RoSCTL and RoDTEP scrips

New Delhi, June 3 (KNN) The Federation of Indian Export Organisations (FIEO) has urged the government to increase the validity of Rebate of State & Central Taxes and Levies (RoSCTL) and Remission of Duties and Taxes on Export Products (RoDTEP) scrips to 24 months as a support for exporters.

It has also appealed to link transferability with realisation, extend RoDTEP to EOUs, SEZ and advance authorisation, expand usages of RoDTEP and RoSCTL scrips and logistics support for the sector looking at the higher freight cost. 

In view of the merchandise report for the month of May 2022, FIEO President, Dr A Sakthivel said that the highest-ever exports of over USD 37 billion during May of a fiscal year, shows the continuous resilience of the exports sector amidst rising global uncertainties. 

He said that the top sectors, which have performed impressively during the month were petroleum products, engineering goods, electronic goods, RMG of all textiles, gems & jewellery, organic & inorganic chemicals, drugs & pharmaceuticals and rice.

Labour-intensive sectors also contributed to the exports basket, which itself is a good sign, further helping job creation in the country, said Sakthivel.

FIEO Chief also reiterated that the benefits of the newly signed FTAs and the PLI scheme will further help us in building as we continue to move ahead during the fiscal. 

Imports growth is of little concern and may be looked into. However, he added that rising imports of gold may lead to impressive gems & jewellery exports in next 1-2 months with lead time. (KNN Bureau)