Home / Knowledge / News / Apparel/Garments / MEIS expansion to boost cotton fabrics export
MEIS expansion to boost cotton fabrics export
03
Nov '15
India’s cotton fabrics export is likely to get a 10-15 per cent boost in the current financial year after the Government announced that the inclusion of a dozen African countries under the Merchandise Exports from India Scheme (MEIS), according to The Cotton Textiles Export Promotion Council (TEXPROCIL), the media has reported.

In the latest notification issued on October 29, the Directorate General of Foreign Trade (DGFT) included 12 African countries under MEIS for exports of cotton fabrics (woven and knitted) and made-ups. The new MEIS list of the dozen African countries offer a huge potential for exports of cotton fabrics from India and make the Indian products competitive against those of Bangladesh, Pakistan and China.

“This is a positive step taken by the government and has come as a huge relief to the exporters of cotton textiles,” Texprocil chairman R K Dalmia said in a statement.

Exports of value-added and labour-intensive products such as cotton dyed and printed fabrics and made-ups to African countries will receive a huge boost. “Exports of cotton fabrics would get a further fillip of 10-15 per cent and India would also link up with the global value chains by offering products at competitive prices,” said Dalmia.

Cotton textiles exports declined 2.16 per cent to $4.24 billion between April and August 2015, compared to the same period last year. The government’s target of $13.67 billion for cotton textiles exports for 2015-16 looks ambitious.

The inclusion of various categories of knitted fabrics under the MEIS will also encourage exports of knitted fabrics including knitted fabrics with lycra, Dalmia said.

The Texprocil Chairman said. if these measures are also followed up by the much awaited announcement of the Interest Rate Subvention Scheme and an increase in the drawback rates, exporters will be able to overcome the difficulties which they are currently passing through due to slowdown in the world market. (SH)

Fibre2Fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search