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FTP to provide new fillip to textiles sector - Texprocil
Jun '12
Shri Anand Sharma, Minister for Commerce, Industry & Textiles, announced the Annual Supplement 2012-13 to Foreign Trade Policy (2009-2014), on 05-06-2012. The policy is aimed at sustaining export growth momentum amid global uncertainties.

Welcoming the FTP announcements, Mr. Amit Ruparelia, Chairman, The Cotton Textiles Export Promotion Council (TEXPROCIL) said, “The policy with its seven-point strategy will help boost exports and would provide a new fillip to textiles sector”.

The announcements made by the government include extension of interest subsidy scheme by one year till March 31, 2013 for a select few product group. The policy has enhanced the scope of Zero Duty EPCG Scheme and also delinked the Scheme with Technology Up-gradation Scheme (TUFS).

'In my opinion, this would help to fast track modernisation in the Textile sector', Mr. Ruparelia said. Also the introduction of the new Post-Export EPCG Scheme would help in reduced transaction cost and make the Scheme more attractive, he added.

Further, Mr. Ruparelia said, enlargement of Focus Product Scheme (FPS) / Focus Market Scheme (FMS) by including more number of Products and Markets will help the exporters to focus on value added products and also explore opportunities in new markets.

The Government has also liberalized all scrips to source from domestic market to encourage manufacturing in domestic sector. This measure is an important measure for import substitution thereby generating more employment.

Commenting on the 2% interest subvention scheme that was earlier available only to select few sectors like Handlooms, Handicrafts, Carpets and SMEs till 31st March 2012 and now extended up to the end of fiscal 2013, is also being extended to labour intensive sectors namely, Toys, Sports Goods, Ready-made Garments, Mr. Amit Ruparelia has appealed to the government to extend the 2% interest subvention scheme to all the other labour intensive segments of Textiles & Clothing Sector, such as, Home Textiles, Knitted Fabrics, Woven Fabrics etc, which has also been significantly contributing to the country's foreign exchange earnings and have been actively generating employment.

Mr. Ruparelia welcomed the declaration of Ahmadabad and Kolhapur as Towns of Export Excellence (TEE) and thanked the Government for accepting the representations made by the Council in this regard.

Mr. Ruparelia expressed his confidence that India would register a growth rate of 25 per cent Year on Year from the present level of 15%, If Policy measures are extended to the entire Textile value chain

The Cotton Textiles Export Promotion Council (TEXPROCIL)

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