Home / Knowledge / News / Apparel/Garments / GEA President welcomes First Annual Supplement to FTP
GEA President welcomes First Annual Supplement to FTP
Sep '10
Mr Rakesh Vaid, President, Garments Exporters Association (GEA) has welcomed the First Annual Supplement to the Foreign Trade Policy, 2009 – 2014, announced by the Hon'ble Minister of Commerce & Industry, Shri Anand Sharma, providing fresh stimulus worth Rs.1050 Crores to Labour intensives export sectors.

The policy has responded to some of the demands of exporters by continuing some incentives and scheme to help them to overcome the present crisis being faced by them because of global economic slowdown and uncertain international market conditions.

While appreciating 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 for another six months up to 31.03.2011, Mr Vaid felt that the 2% incentive given under MLFPS scheme should also be made available for exports made to USA, as the USA market has not fully recovered. Mr Vaid also recommended that the readymade garments should be included in the labour-intensive sectors eligible for a bonus incentive of 2% benefit.

However, the extension of zero-duty Export Promotion Capital Goods Scheme till March 2012 is a welcome step which will help us in expanding capacities by modernization and quality upgradation, said Mr Vaid. Mr.Vaid has also welcomed, the extension of Duty Entitlement Pass Book Scheme(DEPB) and the interest subvention of 2% and the measures to cut-down the transition cost for exporters.

He also welcomed the announcement on procedural simplification in filing EPCG application on annual basis, without the need to file the application for individual capital goods from time to time.

GEA has also requested the Government to ban the export of cotton yarn so as to ensure adequate supply of cotton yarn and fabric at reasonable prices to garments exporters. GEA also requested the Government to make efforts to ensure financial stability in the external sector along with the much emphasized need for price stability in the domestic sector.

Garments Exporters Association (GEA)

Must ReadView All

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Nisha Chanda
Whistling Woods International School of Fashion

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

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search