Home / Knowledge / News / Textiles / Textiles Ministry recommends duty drawback on cotton yarn exports
Textiles Ministry recommends duty drawback on cotton yarn exports
16
Jul '11
The Union Minister for Commerce & Industry and Textiles, Shri Anand Sharma has said that he will recommend duty draw back on cotton yarn exports to Finance Ministry w.e.f. 1st April 2011. On cotton exports he said “comprehensive view will be taken on cotton exports after an inter-ministerial consultation over next few days and a close watch will be maintained on cotton arrival data, maintained by Cotton Advisory Board (CAB), whose meeting is scheduled for August.”

He was speaking after taking stock of the Textiles Industry at a stakeholder's consultations with Industry. It was a comprehensive review of key stakeholders of textiles industry, including the cotton industry, yarn industry and apparel producers.

Apart from the duty draw back recommendation and cotton export related issues he announced that 3 mills of National Textiles Corporations (NTC) will be inaugurated in Maharashtra, Gujarat and Karnataka. Indicating the urgency in addressing the industry concern the Minister informed that “Within 10 days, we will take a final view on the new Schemes for Integrated Textiles Park (SITPs) to be established in the country. 25 new SITP's will be constituted; each unit will have the costing of 40 crores.”

Furthermore, four completed Integrated Textile Parks will be inaugurated in Maharashtra and Gujarat shortly. Cotton Development Bill will be introduced in the Winter Session of Parliament to establish a DG of textile intelligence.

On the pressing need of reviving the Tirupur Shri Sharma said, “I am seized of the enormity of the challenge posed by the High Court order and the huge social dimension, resulting from closure of units in which thousands of people have been rendered jobless. I will discuss the matter with Environment Minister and Tamil Nadu Government to draw a roadmap for meeting environment regulatory norms. A Public Private Partnership model will be explored where industry and Government will work jointly to develop a technically and economically feasible solution. I have requested Secretary (Textiles) to travel to Chennai on Monday to hold a dialogue with the Chief Secretary”

Press Information Bureau

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Marcel Alberts
Eurofibers

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

Mohammad Hassan
Biax Fiberfilm

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

Paolo Ocleppo
Sandvik Hyperion

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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
April 2017

April 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