INDIA EXPANDS TAX REBATE SCHEME TO BOOST STEEL EXPORTS

        India will include steel exports in its RoDTEP (Tariff and tax Relief on Export Products) scheme from December 15 to stimulate exports, the Ministry of Commerce and Industry said.

        Under the expansion, the program, which currently covers 8,731 items, will increase to 10,342 items, including chemicals and pharmaceuticals. The expanded program is expected to expire on Sept. 30, 2023. The steel entry will include HS codes from 7301 to 7326, covering steel products such as sheet piles, railway or trolley track building materials, pipes, etc. The rebate ranges from 0.5% to 1.6% of the FOB price, depending on the steel product.

         The Indian government lifted export tariffs on various steelmaking raw materials and steel products on November 19. The previous tariffs lasted from May 22 to November 18, with India becoming a net importer of finished steel in July, October and November 2022.

（Article source: World Metal Herald）