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

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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