Commerce Ministry seeks Cabinet nod for new duty reimbursement scheme for exporters

The government is planning to do away with its export incentive scheme and replace it with a duty refund scheme.

According to sources, the Commerce Ministry has already sought the approval of the cabinet for a new duty reimbursement scheme for exporters. The new scheme will be compatible with the World Trade Organisation (WTO) rules, it is learnt.

Last week, taking a veiled dig at India and China, Trump tweeted, “The WTO is broken when the world's richest countries claim to be developing countries to avoid WTO rules and get special treatment. No more!!! Today I directed the US Trade Representative to take action so that countries stop cheating the system at the expense of the US.”