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New scheme to boost apparel exports from September 1
12
Aug '16
A new scheme called Special Advance Authorisation Scheme for export of articles of apparel and clothing accessories of Chapter 61 and 62 of ITC (HS) classification will come into effect from September 1, 2016, according to a notification issued by the Directorate General of Foreign Trade (DGFT).

Under the scheme, exporters will be entitled for an authorisation of fabrics including inter lining on pre-import basis, and All Industry Rate of Duty Drawback for non-fabric inputs on the exports.

The authorisation shall be issued for the duty-free import of relevant fabrics, in order to boost apparel exports.

The Union Cabinet had recently approved a Rs 6,000 crore package for the garment and textiles sector with an aim to create one crore new jobs in three years, and increase exports by $30 billion.

India's textiles and apparel exports earned $38 billion in 2015-16, and this figure is likely to touch $50 billion this fiscal. (RKS)

Fibre2Fashion News Desk – India

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