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NEW DELHI: In order to boost garment exports, the Revenue Department has started the process to operationalise the Rs 5,500-crore ROSL scheme from September 20, under which exporters will be compensated for state levies. Presently, exporters get only duty drawback on the central levies imposed during the process of manufacturing of goods for exports. In a first of its kind move, the Cabinet had cleared Rebate of State Levies (ROSL) on export of garments to refund the State levies which were not refunded so far. "The main objective of the scheme is to provide for remission of State levies in addition to the duty drawback scheme, through the scheme for ROSL on export of garments on an average basis only," the Central Board of Excise and Customs (CBEC) said in a notification.

Exports and imports are the most important elements of international trade. Export data is the classified information of exports of all the commodities from a country to all the different nations around the globe along with the tariffs, transportation charges and all the taxes applicable on all the goods in the international market.

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Import Export Data is a prime and major source of information for all individuals who want to expand their trade and touch the foreign lands to find new customers for their companies and products. The data helps the traders to stay updated about the goods and services that are being imported or exported by their rivals and what prices do they sell it off.

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Finance Minister Arun Jaitley on Tuesday said India-US trade will get a boost from business-to-business, business-to-government and government-to-government interactions, in a context where new structural reforms like GST will boost growth and the overall development of the country. "Foreign investment is important for India in order to have larger investment in infrastructure sector," Jaitley told members of the visiting US CEOs Forum, according to a Finance Ministry release in New Delhi.