New Delhi 1 October 2024: The Confederation of Indian Textile Industry (CITI) applauded the government’s decision to prolong the RoDTEP program by one year for exporters of Domestic Tariff Areas (DTA) and three months for Advance Authorization (AA), Special Economic Zones (SEZ), and Export-Oriented Units (EOU). We also applauded the introduction of the Minimum Import Price (MIP) and the expansion of the Interest Equalization Scheme (IES) to knitted fabric categories. These steps will improve the textile trade balance and boost export competitiveness.
The Confederation of Indian Textile Industry (CITI) applauded the government’s decision to prolong the RoDTEP program by one year for exporters of Domestic Tariff Areas (DTA) and three months for Advance Authorization (AA), Special Economic Zones (SEZ), and Export-Oriented Units (EOU). We also applauded the introduction of the Minimum Import Price (MIP) and the expansion of the Interest Equalization Scheme (IES) to knitted fabric categories. These steps will improve the textile trade balance and boost export competitiveness.
CITI expressed displeasure with the 0.1% to 0.5% drop in RoDTEP pricing for about 991 textile products. Shri Mehra claims that this decrease is a setback because the company has been looking for a rate hike to retain its competitiveness in the worldwide market. “While we appreciate that the government chose to extend the program, we are disappointed by the rate reduction. For the top 100 textile commodities, which make up roughly 78% of all textile exports from India, RoDTEP rates for nearly 80 textile commodities have decreased by 0.1% to 0.5% for AA, SEZ, and EOU units. DTA units, tariffs for 88 commodities have decreased by 0.1% to 0.8%.
A long-term extension of the program is requested by CITI, as it would help the industry reach its ambitious export goal of US$ 350 billion by 2030. The government has been beseeched by the sector to reevaluate the higher revision of RoDTEP rates, as this would offer the much-needed respite to maintain the expansion of Indian textile exports.
