Mumbai, Feb. 24 -- The Remission of Duties and Taxes on Exported Products Scheme is a government policy that refunds embedded taxes and duties incurred during the manufacturing and distribution process which are not otherwise reimbursed.

The policy was aimed to neutralizing such costs and enhance exporters' competitiveness in global markets.

Under the revised structure, incentive rates have reportedly been cut from 0.3%-4.3% of export value to 0.15%-2.15%. The reduction is expected to lower the quantum of rebates available to exporters, potentially impacting margins of companies with significant overseas revenue exposure, as per media reports.

Export-oriented textile companies, particularly garment and home textile manufacturers, are l...