Economics • Indian EconomyMedium
In the context of India's foreign trade policy, what does the 'Duty Remission Scheme (RoDTEP)' primarily seek to accomplish?
A. Refund embedded central, state, and local duties and taxes levied on exported products that were hitherto un-refunded✓ Correct Answer
B. Provide direct cash subsidies to domestic firms exporting agricultural raw materials
C. Waive corporate income taxes for multinational corporations operating in Special Economic Zones
D. Exempt capital goods imports from anti-dumping duties
💡 Solution & Explanation
The Remission of Duties and Taxes on Exported Products scheme refunds embedded central, state, and local levies that were previously un-refunded to exporters. Direct cash subsidies or corporate income tax waivers operate under entirely different trade policy frameworks. This WTO-compliant mechanism ensures Indian export items remain competitive in international markets.
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