New Delhi, May 12 (UNI): The Aluminium Association of India (AAI) has demanded speedy implementation of the RoDTEP Scheme (Remission of Duties or Taxes on Export Products) for the Indian aluminium industry on priority to survive these challenging times.
In a letter to senior officials of the ministries of Commerce and Industry and Finance and Corporate Affairs, AAI expressed the urgent need for at least 5% remission rate for the aluminium sector under RoDTEP scheme to ensure its global competitiveness. The association also requested a separate budget allocation for the aluminium industry, being a strategic sector, to realize the immense potential to double aluminium exports over the next two-three years.
Highlighting the urgency of the matter, AAI said the government needs to notify the actual remission rates as per actual sectoral data submitted to the RoDTEP committee.
The inordinate delay in notifying the sector-wise remission rates is creating a precarious situation and a high level of uncertainty for the Indian exporters. It is adversely impacting exports due to ambiguity with respect to pricing of exports goods and absence of any clarity on the mechanism of duty remission/ drawback rates for exports.