Home / Knowledge / News / Apparel/Garments / AEPC hails 2% duty credit scrip extension to EU & USA
AEPC hails 2% duty credit scrip extension to EU & USA
01
Mar '14
Chairman AEPC, Mr. Virender Uppal, welcomed the move to extend the 2% duty credit scrip under the Market Linked Focus Product Scrip (MLFPS) for RMG sector (2% Duty credit scrip, HS 61 & 62) to EU and USA for exports from 01/04/2014 till further orders. 
 
Chairman AEPC, Mr. Uppal in his statement remarked, “The incentive to RMG products which have the highest employment intensity and potential was the need of the hour. I am sure that this decision of the Government would surely go a long way to offset infrastructure inefficiencies and other associated costs involved in manufacturing and marketing of these products”. DGFT in its notification dated 27.02.14 amended the Chapter 3 of Foreign Trade Policy.
 
Chairman AEPC noted that, we are at the fag end of this fiscal year and Industry captains are sprinting fast to reach the most ambitious target set for AEPC this year. With the current growth of over 16.4% I am hopeful we will be cruising past 15 billion US $. It is noteworthy that Chapter 61 & 62 covers all the garment products and our exports to EU & USA covers almost 65% of our total garment exports.
 
Chairman AEPC also lauded the DGFT for expanding the list of products for textiles and leather under the above scheme. It is a well-timed move, which will have the far reaching benefits in terms of boosting the exports. 
 
High input costs and slowdown in global markets were adding to the stress. I am sure the present initiative of DGFT would certainly help in easing the pressure to a considerable extent to our sector, Mr. Uppal added.
 

AEPC

Must ReadView All

Apparel/Garments | On 28th Sep 2016

CMAI inks MoU with Chinese textile trade body CCCT

Indian apex clothing association, the Clothing Manufacturers...

Textiles | On 28th Sep 2016

India sees largest gain on WEF’s Competitiveness Index

India has shown the largest gain made by any country on the World...

Textiles | On 28th Sep 2016

Oerlikon to show new yarns and fibres at ITMA+CITME expo

The Oerlikon Manmade Fibers segment, the world market leader for...

Interviews View All

Anvita Mehra
Confidential Couture

Vasanth Kumar
Max Fashion India

Neel Sawhney
One Friday

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search