The commerce ministry is pressing for an extension of two crucial export promotion schemes — the Interest Equalisation Scheme (IES) and the Remission of Duties and Taxes on Export Products (RoDTEP) — as it seeks to bolster outbound shipments amid global economic uncertainties.
The IES, which provides exporters with subsidies on pre- and post-shipment rupee export credit, is set to expire at the end of August.
The commerce ministry has requested the finance ministry for the continuation of the scheme for all exporters, following a two-month extension granted to micro, small, and medium enterprises (MSMEs) in June.
Meanwhile, the RoDTEP scheme, which reimburses embedded taxes and duties on exported products, is also facing an expiration deadline of September 30. The government is considering extending the scheme for all 10,000-plus product lines currently covered under it.
