Home / Knowledge / News / Apparel/Garments / TEA welcomes Foreign Trade Policy announcements
TEA welcomes Foreign Trade Policy announcements
05
Jun '12
Shri Anand Sharma, Hon'ble Union Minister of Commerce, Industry and Textiles unveiled Foreign Trade Policy announced Annual Supplement 2012-13 of FTP 2009-14.

While welcoming the measures announced in the Foreign Trade Policy Dr. A. Sakthivel President of Tirupur Exporters' Association (TEA) said that this is the first time all the requirements of garment sector have been addressed in the Policy and specifically thanked Shri. Anand Sharma, Hon'ble Union Minister of Commerce, Industry and Textiles for these positive measures.

Dr. Sakthivel was happy to note the extension of 2% interest subvention to Readymade Garments upto 31st March 2013 will be a relief to the Tirupur knitwear exporters as the Bank interest rate has now gone up to 11.5% – 1 3.5%.

Dr. Sakthivel appreciated for extension of Market Linked Focus Product Scheme for export to USA & EU and mentioned this measure will be helpful to increase the competitiveness and sustain in these markets.

Dr. Sakthivel welcomed the extension of Zero Duty EPCG Scheme upto 31st March 2013 and enlargement the scope of zero duty EPCG scheme to the applicants availed loan under TUF scheme and was happy to note the decision of extending the benefit of Zero Duty EPCG scheme to Status Holder Incentive Scrip applicants.

The exporters will opt for newly introduced post export EPCG scheme as this will give the benefit of reduction of transaction cost and also export obligation.

Dr. Sakthivel mentioned the major EDI initiative, “e-BRC” launched by DGFT is significant one as this will reduce the transaction cost to the exporters. He noted that “e-BRC” would herald electronic transmission of Foreign Exchange Realization from the respective Banks to the DGFT's server on a daily basis. Exporter will not be required to make any request to bank for issuance of Bank Export and Realization Certificate (BRC).

This will establish a seamless EDI connectivity amongst DGFT, Banks and Exporters. “e-BRC” would facilitate early settlement and release of FTP incentives / entitlements.

Dr. A. Sakthivel said he has sent thanks letter immediately after the announcement of Supplement 2012-13 to Shri.Anand Sharma, Hon'ble Union Minister of Commerce and Industry & Textiles.

Dr. A. Sakthivel said he has also sent thanks letter to Shri. S. R. Rao, I.A.S., Commerce Secretary, Dr. Anup K Pujari, I.A.S., Director General of Foreign Trade, Smt. Kiran Dhingra, I.A.S., Textile Secretary and Shri. V. Srinivas, I.A.S., Joint Secretary.

Tirupur Exporters' Association (TEA)

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search