India restores full benefits for exporters as West Asia war raises shipping costs
According to a Commerce Ministry statement, the restored rates will match those in effect on 22 February this year, reversing the 50% cut imposed a month ago
India today (24 March) announced the restoration of full benefits for exporters under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, amid the West Asia war's impact on Indian exports through higher shipping costs.
According to a Commerce Ministry statement, the restored rates will match those in effect on 22 February this year, reversing the 50% cut imposed a month ago.
The statement also added that the step is intended to provide timely support to Indian exporters facing increased freight costs and war-related trade risks arising from disruptions in the Gulf and the wider West Asia maritime corridor.
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"Recent developments in West Asia have led to challenges in maritime logistics, including changes in routing and transit patterns, and these have had an impact on logistics costs and shipping schedules for export consignments moving to or through the region," the statement said.
It said the decision is aimed at sustaining India's export competitiveness in a challenging global environment.
