Restoration of RoDTEP Scheme for AA, SEZ, and EOU Exports ensures that key contributors to exports are not excluded from critical incentives
Associated Chambers of Commerce and Industry of India (ASSOCHAM) has commended the Government of India for restoring the benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exports from Advance Authorisation (AA) holders, Export-Oriented Units (EOUs) and Special Economic Zones (SEZs), effective June 1, 2025. The restoration ensures that key contributors to Indias exports are not excluded from critical incentives, especially at a time when global competitiveness and domestic industrial resilience are of utmost importance. ASSOCHAM has consistently advocated for the extension of RoDTEP to all exporting entities, including those operating in SEZs and under AA and EOU frameworks. This move will correct the gap that created cost disadvantages for such units and is aligned with Indias WTO commitments, noted Manish Singhal, Secretary General, ASSOCHAM.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
3 days ago
- Time of India
By 2035, AI-driven automation to boost manufacturing productivity by up to 40%: Report
By 2035, AI-driven automation is expected to boost to manufacturing productivity globally by up to 40 per cent, with artificial intelligence detecting defects at 90 per cent accuracy and improving quality control by 35 per cent., according to recent report by the ASSOCHAM-Odisha State Development Council in collaboration with Primus Partners . Additionally, the report also highlights that, AI adoption is likely to rise by 20 per cent, crossing 378 million users, getting major boost from the manufacturing sector. "AI is not just optimising manufacturing--it's redefining it. Globally, AI-driven factories have achieved up to 40% productivity gains and 90% defect detection accuracy. As India embraces Industry 4.0, Odisha stands uniquely positioned with 41.2 MTPA steel capacity, 55% of India's iron ore output, and a robust digital ecosystem," said Pankaj Lochan Mohanty , Chairman, Odisha State Development Council , ASSOCHAM. The report highlights that, last year about 35 per cent of global manufacturers were already using AI, with aim to not face issues in predictive maintenance, quality control, and supply chain management. Particularly, 54 per cent of Indian automotive companies have already adopted AI for smart assembly lines, predictive maintenance, and quality control, driving both efficiency and product quality. Additionally, AI is also being used to revolutionize drug discovery and compliance monitoring, automating batch analysis for faster and safer production. The report also reflects that, machine vision systems powered by AI enabling high-precision defect detection. The electronics industry is projected to reach USD 300 billion in value by 2026. Along with that "contributing 2.3 per cent to India's GDP, the textile industry is integrating AI for customized design, efficient cutting, and defect detection, boosting both productivity and export potential." "Artificial Intelligence is rapidly reshaping global manufacturing, with over 80 per cent of manufacturers already adopting AI across operations. Studies show AI can reduce defects by 66 per cent, cut material costs by 12.5 per cent, and speed up production cycles by 20 per cent," said Kanishk Maheshwari , Co-Founder and Managing Director, Primus Partners.
India Gazette
5 days ago
- India Gazette
About 47% of Indian firms say cost of doing business has gone up amid global uncertainty: Assocham survey
New Delhi [India] June 17 (ANI): Amid global uncertainties, about half of the Indian firms surveyed by Industry Body Assocham said that the overall Cost of Doing Business (CoDB) has risen moderately. 'With global uncertainties, respondents reported that the overall Cost of Doing Business (CoDB) has risen moderately (with roughly 47 per cent indicating a moderate increase and about 37 per cent noting a significant uptick),' the industry body said. The firms say that key cost drivers such as infrastructure spending, high financing costs, and skilled labour expenses have emerged as recurring challenges, impacting their business operations. Among the other reforms suggested are ESG requirements, strict control on Chinese electronic imports, and government support in technological lag. The industry body added that research & development, reducing export finance costs, improving Rupee trade competitiveness, enhancing logistics efficiency, and ESG related requirements are some of the factors that will help India to attain the goal of becoming a USD 5 trillion economy by 2030. On highlighting the difficulties faced by the Indian firms, the industry body added that large firms with an annual turnover more than Rs 250 crore reported logistics and transportation, infrastructure cost, skilled labour, and cost of finance as major challenges. Other firms with annual turnover equal to or less than Rs 250 crore reported that skilled labour, infrastructure cost, cost of finance, compliance and cascading effect of taxes and duties are major challenges. 'Indian industry shows potential to contribute to India's economic growth. However, tapping into this potential will require targeted policy efforts, infrastructure development, and other related initiatives. The current business outlook is cautiously optimistic and expects that reforms will yield significant improvements in the export ecosystem,' Assocham stated. Assocham said that the economic outlook for Indian industries presents a mixed picture of optimism and structural challenges. While nearly 15 per cent of the overall respondent firms report positive engagement with policy schemes like the Production Linked Incentive (PLI), a majority indicate a need for broader market integration and support. The report added that although the PLI scheme is a positive initiative by the Government of India to boost domestic manufacturing and increase exports by providing financial incentives to companies, only 15 per cent overall and 32 per cent of exporting firms acknowledged its benefits. Highlighted by the survey, the respondent expects seven broad regulatory reforms. Improvements in Direct Tax Regime, Legal & Contract Enforcement Reforms, Steps to Reduce the Overall CoDB, Simplified GST Framework, Lower Cost of Capital, Single-Window Clearance System are the top seven expectations of the industry, the survey's findings revealed. These responses highlight the industry's desire for balanced fiscal and monetary strategies that support both affordability and business sustainability, while the long-term expectations, if brought to fruition, can improve technological advancement to keep up with global competition and help Indian exports remain attractive in international markets, reduce delays and costs, among other benefits. (ANI)
Business Standard
5 days ago
- Business Standard
ASSOCHAM Indian Economic Confidence Survey 2025 presents cautiously optimistic outlook
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has released its Indian Economic Confidence Survey for FY25, offering a comprehensive analysis of India's evolving industrial landscape in the face of a shifting global economic environment. Drawing insights from a broad spectrum of companies spanning multiple sectors, the report captures the prevailing industry sentiment, operational challenges, export trends, and the policy expectations of Indian industry. The ASSOCHAM Indian Economic Confidence Survey 2025 presents a cautiously optimistic outlook, shaped by rising costs, regulatory burdens, and logistical constraints, yet also supported by new opportunities in manufacturing growth and digital transformation. According to the survey, nearly 54 per cent of respondent large firms, with annual turnover of more than Rs. 250 crores, reported involvement in exports indicating supportive export policies and a correlation between firm size and export competitiveness. Among firms that export, larger enterprises dominate, particularly in sectors like automobiles and components, energy, IT & ITeS, chemicals and petrochemicals, etc. However, nearly 76 per cent of respondent smaller firms, with annual turnover equal to or less than Rs. 250 crores, reported no involvement in exports, highlighting the need for greater policy push and institutional support to strengthen the export ecosystem. The analyses reveal that 47 per cent of the respondents have indicated a moderate increase in the cost of doing business, whereas, 37 per cent have indicated a significant uptick. Key cost drivers include infrastructure cost, skilled labour, and cost of finance, among others. In addition to these, challenges related to compliance and regulatory complexity, burden exporters and domestic producers. However, the survey finds positive signs of the transformative potential of targeted policy interventions. Nearly 32 per cent of the respondent firms involved in exports appreciated government initiatives like the Production Linked Incentive (PLI) Scheme, though its reach remains uneven. Larger respondent firms tend to engage more with such schemes, while the smaller ones cite difficulty in accessing benefits. The survey noted that from a regional perspective, states like Maharashtra, Tamil Nadu, Karnataka, Gujarat, and Uttar Pradesh, among others have developed robust export ecosystems with exports spanning across several sectors. In contrast, other states like West Bengal, Goa and Kerala, among others have carved out niche positions. This geographic diversity calls for region-specific strategies to boost export competitiveness and diversity.
