Home / Knowledge / News / Textiles / New FTP to encourage domestic production in India
New FTP to encourage domestic production in India
05
Jun '12
Welcoming the new foreign trade policy of the government, apex industry body The Associated Chambers of Commerce and Industry of India (ASSOCHAM) said that new foreign trade policy extends the interest subvention scheme for another year and expand its coverage to other labour-intensive sectors.

ASSOCHAM is glad that import entitlement scripts against exports accumulated by the exporters could now be used for procurement of domestic product without paying excise duty.

“This will also encourage domestic production at a time when industry is reeling under the slow down. Besides, the scope for EPCG has also been extended which is used by the textile sector” added Mr. D S Rawat, Secretary General, ASSOCHAM.

“Considering that South East Asian Countries are currently showing a healthy growth trend, India should put special emphasis on export to these regions to take advantage of their buoyant market which will in turn boost India's exports,” said Mr Rawat. “Europe and the US economies have slowed down and India needs to shift its focus to other countries.”

ASSOCHAM further suggested that technology content of Indian exports should be increased and for this purpose, the NMCC (National Manufacturing Competition Commission) should formulate dedicated manufacturing industry development strategy for increasing high technology exports from India.

Associated Chambers of Commerce and Industry of India (ASSOCHAM)

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Anvita Mehra
Confidential Couture

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

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Igor Chapurin
Chapurin

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, 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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search