New Delhi, Jan. 27 -- In FY22, India exported engineering goods worth USD 111.63 billion, a 45.51 per cent YoY increase, according to the Engineering Export Promotion Council of India (EEPC).

Taking about his expectations from the Upcoming Budget, Arun Kumar Garodia, chairman EEPC said "One key aspect this budget should focus on is capacity building of engineering firms, particularly the smaller firms that are facing several challenges, including stiff competition with China."

"The government should look at the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme as a reimbursement scheme rather than an incentive scheme. It should reimburse whatever taxes have been deducted during the manufacturing of the exported product,...