Home / Knowledge / News / Textiles / New FTP to encourage domestic production in India
New FTP to encourage domestic production in India
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

Textiles | On 24th Oct 2016

Indian govt plans roadshows to promote textile exports

The Indian government has planned to conduct roadshows to boost the...

Textiles | On 24th Oct 2016

TPP may hit roadblock

The 12-member Trans-Pacific Partnership (TPP) that was signed earlier ...

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Silke Brand-Kirsch
Schlegel und Partner

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

Urs Stalder
Sanitized AG

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

Johan Berlin
InvestKonsult Sweden AB

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search