"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 ₹15,070 crore is available for it. Till December, ₹12,000 crore of the allocation for the year has been spent.
In FY23, the RODTEP supported $450 billion worth of exports at the cost of ₹13,020 crore. While in 2021-22, the scheme aided $421 billion of exports and cost ₹12,100 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.
Denne historien er fra December 29, 2023-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 29, 2023-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Murdoch ally helps Ambani build media empire in India
SOHEE KIM PR SANJAI
Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.
Nestle adds sugar to infant milk and cereal, finds report
A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.
India-made Daimler's electric mini truck to hit the road soon
INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Samsung eyes ₹10,000 cr from India TV biz this year
SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.
Microsoft AI Copilot speed boost for coding
WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.
US, China debt pose risks for global public finances: IMF
THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.
Language models in consumer tech
This move is designed to ensure better user experience & privacy
'Data centres' energy use doubles every four years'
Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.
Vi FPO: Foreign players invest big; about ₹5,400 crore raised
GQG, Fidelity buy almost 40% of the anchor investor portion
