TEA welcomes Annual Supplement 2010-11 to the FTP
Shri. Anand Sharma, Hon'ble Minister of Commerce and Industry presented the first Annual Supplement to the Foreign Trade Policy 2009-14.
Shri.A. Sakthivel, Tirupur Exporters' Association (TEA) President, welcomed the Annual Supplement 2010-11 and said that the Association requisitions for extension of Market Linked Focus Product Scheme (MLFPS), Zero Duty EPCG Scheme, 1% Status Holders Incentive Scheme etc., have been addressed in the Annual Supplement 2010-11.
Shri.Sakthivel added that Market Linked Focus Product Scheme (MLFPS) has been extended for six months, from October 2010 to March 2011 for exports to 27 EU Countries, Zero Duty EPCG Scheme for one more year till 31.3.2012, 1% Status Holders Incentive Scheme by one more year upto 31.3.2012.
Shri.A.Sakthivel welcomed the announcement on procedural simplification in filing of EPCG application on annual basis, without the need to file the application for individual capital goods from time to time and added that the said measure will help to reduce transaction time and cost. He was also happy that dispensing of Chartered Engineer Certificate for advance authorization on self declared basis will reduce documentation and transaction costs.
Shri.A.Sakthivel lauded the commencement of 'e-RCMC' (Registration Cum Membership Certificate) under EDI initiatives after removal of redundancy in repeated submissions of RCMC. This will reduce the procedural burden of repeated submissions and associated cost and time.
Shri.A.Sakthivel also welcomed the online message exchange for Annual Advance Authorization and Duty Free Import Authorization (DFIA) shall also be made operational with Customs with effect from 1st December 2010.
While welcoming the extension of Market Linked Focus Product Scheme (MLFPS) incentive given at 2% of the FOB Value of exports to the readymade garment sector for exports made to EU 27 for another six months up to 31.03.2011, Shri.A.Sakthivel felt that the 2% incentive given under MLFPS scheme available for knitwear exports made to USA should be continued as the USA market has not fully recovered.
Shri.Sakthivel said he has sent a requisition letters immediately after the announcement of Supplement 2010-11 to the Hon'ble Union Minister of Commerce and Industry, Shri.Anand Sharma, Commerce Secretary, Dr.Rahul Khullar,IAS, Shri.P.K.Chaudhery, DGFT for inclusion of USA also for giving 2% incentive under MLFPS.
The similar letters were also sent to Hon'ble Union Minister of Textiles, Thiru.Dayanidhi Maran, Smt. Rita Menon, I.A.S., Secretary, Shri.V.Srinivas,I.A.S., Joint Secretary, (Exports) with a requisition to take up the matter with Commerce Ministry for inclusion of USA also for giving 2% incentive under MLFPS.
Tirupur Exporters' Association