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Business Standard
11-06-2025
- Business
- Business Standard
Centre sets up a new task force to boost country's textile exports
In a bid to enhance India's textile exports at a time when the country is signing trade deals with developed nations, the government has set up a new task force that will look into sector-specific bottlenecks such as regulatory hurdles, cost competitiveness and lack of enough export credit. Commerce Secretary Sunil Barthwal has been appointed as the chair of the task force with representation from officials of Department of Commerce, Ministry of Textiles, Directorate General of Foreign Trade, along with representatives from export promotion councils, industry associations and exporters. In its first meeting, the task force decided to set up several issue-specific sub-groups, which will be led by relevant ministries in coordination with export promotion councils and industry representatives. These sub-groups will provide actionable recommendations to the task force, the commerce and industry ministry said. The discussion touched upon a wide range of issues affecting the textile value chain. These included upgradation of Environmental, Social and Governance infrastructure in garment manufacturing, use of renewable energy in manufacturing, European Union's Deforestation Regulation (EUDR), strengthening e-commerce for export growth, labour issues, cost competitiveness for productivity enhancement, skilling, and branding. Participants also raised issues with export-related incentives such as RoDTEP (Remission of Duties and Taxes on Exported Products) and RoSCTL (Rebate of State and Central Taxes and Levies). They also sought collateral support for export credit for MSMEs. Stakeholders also discussed PM MITRA textile parks, development of new Jute Diversified Products (JDPs), separate harmonised system (HS) codes for Geographical Indication products, productivity enhancement for natural fibres such as jute and matters about the Export Promotion Mission.


The Hindu
05-06-2025
- Business
- The Hindu
A Eurocentric reset, a gateway for India
In a diplomatic move, with far-reaching consequences, United Kingdom Prime Minister Keir Starmer's new agreement with the European Union (EU) signals a powerful 'reset' of their relations, resuming cooperation on food standards, fishing rights, defence and border checks. While this development may appear Eurocentric, it opens a gateway to possibilities and challenges for India that demand urgent attention. The U.K. and the EU are among India's most important trade and diplomatic partners, and their renewed alignment could redraw India's global strategy map. For Indian exporters, this could simplify compliance and revive supply chain fluidity. For policymakers, this presents an opportunity to strengthen strategic alliances. For the diaspora, this could reshape education and migration prospects. In short, the U.K.-EU reset is not just a regional recalibration. It is a moment that could redefine India's trade corridors, diplomatic engagements, and soft power leverage in the West. A reshaping of India's export dynamics The renewed collaboration in areas such as food safety, customs coordination and fisheries is poised to significantly influence Indian exports to both regions. In FY2024, India's exports to the EU stood at $86 billion, while exports to the U.K. totalled $12 billion, highlighting their strategic role in India's external trade. Post-Brexit, Indian exporters have grappled with navigating two separate regulatory regimes, especially in key sectors such as pharmaceuticals, textiles, seafood, and agro-based products. A harmonised U.K.-EU regulatory framework could simplify compliance, reduce redundancy and lower operational costs. India, a significant supplier of generic medicines to the U.K., fulfilling over 25% of its pharmaceutical needs, would benefit from a unified approval mechanism that accelerates clearances and enhances cost efficiency. Similarly, Indian seafood exports, valued at ₹60,523.89 crore (approximately $7.38 billion) in FY2024, could face fewer trade barriers if the food standards and fishing policies are aligned. However, tighter common standards might challenge Indian Small and Medium Enterprises, which often lack the capital and technical know-how. To remain competitive, India must strengthen its export ecosystem through initiatives such as the Remission of Duties and Taxes on Exported Products (RoDTEP) and the Production-Linked Incentive (PLI) scheme. A stronger voice in global diplomacy Beyond trade, the geopolitical dimensions are significant for India. A more synchronised U.K.-EU foreign policy, particularly in defence and the Indo-Pacific, offers India an avenue to enhance its multilateral coordination with the EU. India already operates under the EU-India Strategic Partnership: A Roadmap to 2025, and in 2022, it renewed its Comprehensive Strategic Partnership with the U.K., covering cyber security, climate action, and maritime security. As the U.K. realigns its policies with the EU, India could benefit from cohesive western support on global platforms, such as the United Nations, the G-20, and the World Trade Organization (WTO). Strategic ties with France, Germany and the U.K. are vital to India's defence modernisation and technological ambitions, especially regarding naval power. Notably, India-France bilateral trade reached $15.1 billion in 2024-25; landmark defence agreements with Germany and the U.K. have focused on technology transfer and joint development. A coordinated U.K.-EU defence policy could open doors for deeper trilateral or multilateral engagements in the Indo-Pacific, where shared concerns over China's assertiveness persist. Additionally, India's leadership in the Global South — spotlighted during its G-20 presidency in 2023 — can be amplified by leveraging the U.K.-EU thaw to drive collective action on climate finance, digital infrastructure and global governance reforms. A unified West could become a more dependable ally for India if it engages with India, strategically and assertively, in the future Enhancing trade and talent power On the mobility front, India has the world's largest diaspora, which includes large communities in the U.K. and across the EU. In 2024, the U.K. issued more than 1,10,000 student visas to Indian nationals, placing India among the top sources of international students. While post-Brexit restrictions limited access for Indian professionals to EU markets, renewed U.K.-EU border coordination could enable partial mobility, creating a semi-integrated talent corridor. This could also bolster India's migration pacts with Germany, France and Portugal by embedding them within a broader U.K.-EU framework. These converging shifts — trade liberalisation, mobility reintegration, and foreign policy alignment — present rare diplomatic and economic opportunities. To seize these opportunities, India must accelerate reforms, modernise its export infrastructure, and assert its role in global governance. Vipin Benny is Assistant Professor and Research Supervisor, St. Thomas College (Autonomous), Thrissur, Kerala, and the author of 'The Scenario of Economic Innovations in India: An Idea for Inventor' (2021) and 'Elevating Excellence: The Relevance of Internal Marketing in Higher Education Institutions in India' (2023)


Business Standard
28-05-2025
- Business
- Business Standard
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.


Time of India
27-05-2025
- Business
- Time of India
Goyal asks exporters to leverage FTAs, talks non-tariff barriers
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Commerce and industry minister Piyush Goyal Tuesday asked exporters to increase the utilisation of free trade agreements (FTAs) and discussed non-tariff barriers at a meeting with export bodies and industry. The proposed centralised exporters portal, India's trade pact talks with the EU and the US, and ways to further boost exports of services and value-added goods were also discussed."Met representatives of all Export Promotion Councils (EPCs) & Industry Associations and discussed emerging global opportunities for India. Also, encouraged them to create a facility that makes Indian exporters easily discoverable by overseas buyers to further boost our country's exports," Goyal said in a post on X."Non-tariff barriers were discussed during the meeting," said an representatives said support could be provided to exporters to deal with EU regulations like the Digital Product Passport (DPP).The DPP, which is to be implemented by the EU from January 1, 2026, aims to digitally record, store and share information about a product's entire life cycle-from raw materials to manufacturing, usage, recycling and disposal. It will be mandatory for a wide range of products including electronics, batteries, textiles and construction materials."It was discussed that about 9-10 FTAs are in the pipeline, including Chile and New Zealand," said an industry representative, adding that an early harvest trade deal with the EU is progressing at a faster pace and it may be concluded soon."Discussions happened on ways to incorporate exporters' data and put it on a common portal," said another industry representative who attended the government has allocated Rs 18,233 crore under the Remission of Duties and Taxes on Exported Products (RoDTEP) in the current financial year for over 10,750 product categories, the commerce and industry ministry said. As of March 31, 2025, total disbursements under the scheme have crossed ₹57,976.78 benefits under the scheme for exports of goods manufactured in SEZsand export-oriented units are restored from June 1 this year.


Fibre2Fashion
27-05-2025
- Business
- Fibre2Fashion
India to restore RoDTEP benefits for AA, EOU & SEZ exports from June 1
Government of India has reinstated Remission of Duties and Taxes on Exported Products (RoDTEP) scheme benefits for Advance Authorisation (AA) holders, Export-Oriented Units (EOUs), and Special Economic Zone (SEZ) units. Applicable from June 1, 2025, the move aims to strengthen India's export competitiveness and ensure parity across all exporter categories. These benefits had earlier lapsed on February 5, 2025. Their restoration signals the government's ongoing commitment to boosting merchandise exports by offsetting unrefunded embedded duties and taxes. Since its launch on January 1, 2021, the WTO-compliant scheme has disbursed over ₹57,976.78 crore (~$6.8 billion), the Ministry of Commerce & Industry said in a press release. Indian government has reinstated RoDTEP benefits for AA holders, EOUs and SEZ units from June 1. The move aims to enhance export competitiveness and ensure parity across exporter categories. Earlier withdrawn in February 2025, the scheme has disbursed over ₹57,976.78 crore (~$6.8 billion) since 2021. For FY26, ₹18,233 crore is allocated to support a wide range of HS lines via a digital platform. For FY26, ₹18,233 crore has been earmarked to support exports under 10,780 HS lines for Domestic Tariff Area and 10,795 HS lines for AA/EOU/SEZ segments. The scheme is operated through a fully digital platform to ensure transparency and ease of access for exporters. Fibre2Fashion News Desk (KD)