Budget 2024: No changes in RoDTEP, drawback schemes or 45-day payment rule a miss for MSME exporters, says industry

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Independent trade professional Manasvi Srivastava says that the budget has not proposed major fiscal or policy changes to encourage exports. Proposed sectoral changes include measures on the expenditure as well as on the revenue side. “These include financial and infrastructural support for seafood as well as e-commerce exports. BCD has been reduced on certain broodstock, polychaete worms, shrimp and fish feed to 5%. Besides this, customs duty on various inputs for manufacture of shrimp, fish feed, leather goods, textile and apparel and footwear have also been exempted,” he says.
On another front, Srivastava adds that no changes were seen in the MOOWR scheme, RoDTEP scheme or the drawback schemes; these schemes provide an opportunity to reduce costs for some of the exporters. “Simplification of onerous procedures in customs like the treatment of related-party transactions is also an unfulfilled hope as is the institution of accountability of adjudicating authorities for orders passed by them. Hence reforms that could have a significant impact on facilitating foreign trade and exports are still in the realm of aspiration and hope,” he says.

With an approximate 23% contribution to GDP, export is integral for the country to chart its growth plans and achieve them.

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