"The notification for it would be issued in a week's time and it will benefit $1-2 billion of exports through courier or e-commerce route,"minister of commerce and industry Piyush Goyal said.
E-commerce is the emerging route for exports and worldwide it is expected to touch $2 trillion by 2030. China has been the biggest beneficiary of this trend and its exports through e-commerce are expected to be $300-350 billion.
The RODTEP scheme operates under budgetary framework and for FY23-24, a budget of â¹15,070 crore is available for it. Till December, â¹12,000 crore of the allocation for the year has been spent.
In FY23, the RODTEP supported $450 billion worth of exports at the cost of â¹13,020 crore. While in 2021-22, the scheme aided $421 billion of exports and cost â¹12,100 crore.
The rate of tax refund under the scheme ranges from 0.5-4.3% of the value of the product. It covers business-to-business exports of 10,610 products. Same products exported through e-commerce or courier will get the RODTEP benefit.
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