Department for Promotion of Industry and Internal Trade (DPIIT) on Friday said that RoDTEP scheme (Remission of Duties or Taxes on Export Product (RoDTEP) will make our exports viable and more competitive.

In an interview to CNBC-TV18, Guruprasad Mohapatra, secretary, said the old MEIS scheme was for five years and has not be discontinued suddenly. Also, the government has to align India's import tariff rates with rest of the world.

"The FDI policy has been liberalised and new sectors has been opened up. To give a boost to investment, two major initiatives has been approved by the cabinet. One is constituting an empowered group of secretaries headed by the cabinet secretary, where any investment related decisions which in inter-ministerial in nature, which requires instant decisions, will go to the empowered group of secretaries," Mohapatra said.

He said a project development cell has been set-up, where major investments are expected, "Ministers are working through the project development cell to identify those sectors, interact with the potential investors, talk to them, find out their issues, and see what steps need to be taken. These are some of the major initiatives that have been taken."