India plans to extend RoDTEP 5 years and raise budget
Business
India's planning to give its exporters a boost by expanding the RoDTEP scheme for another five years and increasing its budget.
This comes after exports dropped 7.4% in March, mainly because of disruptions linked to the Middle East crisis.
RoDTEP tax refunds, $1.9B Gulf support
RoDTEP helps exporters stay competitive by refunding local taxes on over 10,000 products: think of it as a cash back for businesses, usually worth 1% to 4% of what they ship out.
India's also rolled out a $1.9 billion emergency credit plan and shipment insurance to help exporters deal with rising costs and risky trade routes in the Gulf region.