Tea industry seeks higher RoDTEP rates to make exports competitive overseas

Quick Summary:

Leading industry body Indian Tea Association (ITA), in its pre-budget memorandum, said that the present RoDTEP rate for bulk tea is 1.7 per cent (free on board) subject to a cap of Rs 6.70 per kilogram.

The association urged the government to increase the reward base rate under the Remission of Duties and Taxes on Exported Products (RoDTEP) for black tea in bulk to remain competitive in the international markets.

The tea industry has sought higher rates under the RoDTEP scheme to make exports more competitive in the overseas markets.

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Article Details

Category: BusinessFinance

Markets: IndiaNepal

Topics: Tea exports Overseas market Tea exports overseas RoDTEP scheme Tea industry Indian tea industry

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-20 @ 12:43:48 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 497 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21691355

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