This is an archive article published on December 28, 2023
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Govt to extend duty remission benefits to e-commerce exports
The government also launched an e-commerce export handbook for MSMEs, which will be a key resource for creating awareness on e-commerce exports through these outreach events in the districts.
India’s goods exports have been under pressure amid a slowdown in the West, owing to geopolitical concerns, and in China, which is facing a property crisis.
The Union government Thursday said it will extend export benefits under its duty remission scheme to the fast-growing e-commerce exports.
The Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) provides for refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods.
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“We are extending RoDTEP benefits for exports through e-commerce and the step will help small and medium scale sectors take advantage of government schemes, further pushing e-commerce exports and boosting overall export growth from the country to achieve the target of $1 trillion merchandise exports by 2030,” Commerce and Industry Minister Piyush Goyal told reporters.
India’s goods exports have been under pressure amid a slowdown in the West, owing to geopolitical concerns, and in China, which is facing a property crisis.
Strictly taking into account postal and courier exports, India’s exports of goods via e-commerce is about $1-1.5 billion, out of the total $420 billion, a government official said.
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China’s e-commerce exports are close to $300 billion annually and the global cross-border e-commerce is about $800 billion annually.
The government also launched an e-commerce export handbook for MSMEs, which will be a key resource for creating awareness on e-commerce exports through these outreach events in the districts.
India’s goods exports have been under pressure amid a slowdown in the West, owing to geopolitical concerns, and in China, which is facing a property crisis.
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