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Updated: January 29, 2021 18:01 IST Implementation of initiatives taken by the government such as rolling out of tax refund plan RoDTEP and production linked incentive scheme would help support exports going forward. Share Article AAA Implementation of initiatives taken by the government such as rolling out of tax refund plan RoDTEP and production linked incentive scheme would help support exports going forward. The country’s exports are expected to contract by 5.8 % and imports by 11.3 % during the second half of the current financial year, though implementation of several measures by the ...

Economic Survey 2021 | Exports may dip 5.8%, imports by 11.3% in second half of 2020-21 With gradual recovery of economic activities, the survey said that imports and exports have picked up. PTI Trade (Image: Reuters) The country's exports are expected to contract by 5.8 percent and imports by 11.3 percent during the second half of the current financial year, though implementation of  several measures by the government would help support exports going forward, according to the Economic Survey 2021. With gradual recovery of economic activities, t...

Synopsis With more than 30,000 processing units, India's plastic goods are exported to over 200 countries, but the sector is facing many structural issues which need to be addressed urgently. Despite India having an FTA with ASEAN and SAARC, the export of value added plastic goods to ASEAN countries is lesser than our share in trade with the USA, UK and WANA, says Goenka. (Pic: Plexconcil) India's plastics sector plays a catalytic role in the economic development of the country. Unsurprisingly, the country currently ranks among the top five consumers of polymers in the world, has over 30,...

Budget 2021 | Focus areas for scripting auto sector’s recovery story India’s automobile industry has the potential to be the third-largest auto market in the world, and an important pillar for India to become a $5 trillion economy — Budget reforms will play a key role in it Pramod Achuthan Representative image COVID-19 impacted every single industry. The Indian automobile sector, which was already facing an unparalleled slowdown, was further atrophied due to the pandemic and subsequent localised lockdowns. Carefully and cautiously, the auto s...

1.5% remission on duties, taxes can make India top electronic exporter by 2025 The government recently announced a WTO compliant Remission on Duties and Taxes on Export Products (RoDTEP) scheme that replaced the earlier Merchandise Export Incentive Scheme. Effective since the beginning of the year, the government is yet to notify the rates of the new scheme Sumant Banerji | January 20, 2021 | Updated 17:26 IST Government recently announced a WTO compliant Remission on Duties and Taxes on Export Products (RoDTEP) scheme A bare minimum of 1.5 per cent as remission of taxes and duties for expor...