rodtep: Handicraft export promotion council urges govt to relook remission rates
The remission rates for handicrafts in RoDTEP are in the 0.01-2.4% range.
In a meeting with finance minister Nirmala Sitharaman, EPCH chairman Rajkumar Malhotra also raised issues related to restoration of duty-free import of essential embellishment, trimmings and tools for handicrafts sector, and risky exporters, according to a statement issued by the council.
He said the provision of duty-free import has helped handicrafts exporters to import items for embellishing their goods like lighting, lamps, fashion jewellery, and wooden handicrafts.
In FY21, India’s handicraft exports were $3.5 billion.
In August this year, the government announced rates of tax refunds under the export promotion scheme RoDTEP for 8,555 products, such as marine goods, yarn, and dairy items wherein yeh tax refund rates range from 0.5-4.3% for various sectors.