Perfect Sourcing - September 2019

En este número

Finally the Government Wakes up To Downfall?
After a long hibernation to problems related to downfall of the Indian economy finally
the moment has come when the Government has realised that if mandatory steps will
not be taken immediately all the important industrial sectors will not sustain. After
taking away MEIS scheme the Government has now come up with Remission of Duties
or Taxes on Export Products (RoDTEP), a new scheme announced by FM Sitharaman
which will replace the premier Merchandise Exports from India scheme (MEIS) for all
goods exported. Exporters earn duty credits at fixed rates of 2 per cent, 3 per cent and
5 per cent, depending upon the product and country. Officials said the rates are yet to
be decided in the new RoDTEP scheme but it will be based on previous method.
While FM must be happy announcing a number of new schemes to safeguard textile
and apparel industry the industry reacted differently and claimed it to be a small
relief in a big catastrophic condition. Most of the players our team interacted with
complained that changing policies randomly does not help but affects business in a big
way especially exporters who take orders well in advance and by the time the
payment time comes the policy is changed and altered