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Making Exports Competitive: Cabinet approves scheme for "Remission of Duties and Taxes on Exported Products (RoDTEP)" to boost exports
RoDTEP scheme is WTO compliant, under which a mechanism would be created for reimbursement of taxes/ duties/ levies, at the central, state and local level, which are currently not being refunded under any other mechanism, but which are incurred in the process of manufacture and distribution of exported products. This scheme is going to give a boost to the domestic industry, providing a level playing field for Indian producers in the International market. Items will be shifted in a phased manner from existing scheme MEIS to RoDTEP with proper monitoring & audit mechanism.
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'Make in India' gaining ground: In a first, India figures on 'Arms Exporters List'
The latest data on global arms transfer by SIPRI shows that Indian arms imports have come down significantly (by 32%) since 2015. India made a modest entry at number 23 but the ranking is likely to rise sharply over the coming years with the government's focus on encouraging weapons sales abroad. India's biggest clients are Myanmar, which accounts for 46% of exports, Sri Lanka at 25% and Mauritius at 14%.
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Assuring Full Support: Meeting held with EPCs, Industry Representatives & Stakeholders in Department of Commerce to discuss recent disruptions in Global Supply Chain
In the meeting, feedback was taken from the Industry on current status of their supply chains, prognosis for the future, whether any crisis in disruption of supply chains is anticipated, opportunities to fill in the gap, and the extent to which the Department can help in the process with the support of our overseas missions. The Industry Representatives were exhorted to use the contact details shared by Indian overseas Missions of potential suppliers and buyers in their respective countries, and arrange interactions with them for future prospects.
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Cabinet approves Minimum Support Price for Copra for 2020 season
The MSP for Fair Average Quality (FAQ) of milling copra has been increased to Rs. 9,960/- per quintal for 2020 season from Rs. 9,521/- per quintal in 2019 and the MSP for ball copra has been increased to Rs. 10,300/- per quintal for 2020 season from Rs. 9,920/- per quintal in 2019. It assures a minimum of 50 percent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers' incomes by 2022. India is number one in production and productivity of Copra in the World.
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