Home / Knowledge / News / Textiles / Indian Textiles Ministry seeks financial package in FTP
Indian Textiles Ministry seeks financial package in FTP
Apr '13
The Ministry of Textiles, Government of India, has sought a financial package for labour-intensive industries like cotton textiles, handlooms and handicraft, in the forthcoming annual supplement to Foreign Trade Policy (FTP), rescheduled to be released in the third week of this month, according to The Hindu.
The Textiles Ministry’s proposals, submitted to the Ministry of Finance and the Board of Trade (BoT), are aimed at giving a boost to exports of cotton textiles, garments, handlooms and handicrafts, in view of these products facing severe competition in various markets.
The Ministry has also sought that the two percent interest subvention scheme be continued in 2013-14, as it would benefit the exporters and increase their competitiveness, particularly when exports are not showing any visible signs of recovery and exporters are facing severe competition in several markets.
In its proposal, the Textiles Ministry urged BoT to increase the duty credit equal to two percent of the value of handloom export, which is in place since August 2009, to five percent. This would ensure proper remuneration for actual handloom producers, and encourage them to continue the trade, the Ministry said.
The Ministry has also pleaded for including Canada, Russia, Australia, Portugal, South Africa and Romania under the Focus Market Scheme (FMS), as this could greatly boost handloom exports. 
Further, the Ministry has also sought that handloom exports be entitled for triple weightage of exports made for grant of star export house status.
It has also sought customs duty exemption of import of machinery and equipment for cabinet dyeing using hand yarn.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Johan Berlin
InvestKonsult Sweden AB

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

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

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

Tony Ward
Tony Ward

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

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

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

December 2016

December 2016

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


Browse Our Archives


Advanced Search