Home / Knowledge / News / Textiles / Indian govt extends EPCG scheme to boost exports
Indian govt extends EPCG scheme to boost exports
Apr '13
Mr. Anand Sharma
Mr. Anand Sharma
The Government of India has announced a list of measures, including the extension of the Export Promotion Capital Goods (EPCG) scheme beyond March 31, 2013, to boost its declining exports.
In fiscal year 2012-13, India’s total exports declined by 1.76 percent year-on-year to US$ 300.6 billion, which increased the country’s trade deficit to US$ 190.91 billion.
Announcing the initiatives as part of the annual supplement to the Foreign Trade Policy (FTP), Commerce and Industry Minister Anand Sharma said the Government has decided to not only extend the EPCG scheme beyond March 2013, but also merge it with 3% EPCG scheme.
The EPCG scheme, which allows exporters to import capital goods (goods that are required in the production of a finished product, but do not form a part of the finished product, e.g. machinery) at zero-duty, would now be available to all sectors, the Minister said.
The exporters who have availed benefits under Technology Upgradation Fund Scheme (TUFS) administered by Ministry of Textiles, can also avail the benefit of Zero duty EPCG Scheme.
Further, to promote domestic manufacturing of capital goods, the quantum of specific Export Obligation (EO) in the case of domestic sourcing of capital goods under EPCG authorizations has been reduced by 10 percent.
Moreover, Norway and Venezuela have been respectively added under Focus Market Scheme (FMS) and Special FMS, taking the total number of countries under FMS and Special FMS to 125 and 50, respectively.
Approximately, 126 new products have been added under Focus Product Scheme (FPS), which include items from the textiles sector.
The Minister also announced sops for Special Economic Zones (SEZs) to boost shipments. Under the SEZ scheme, the minimum land area required for setting up a SEZ has been reduced to half.
In addition, the Government has also decided to allow transfer of ownership and sale of SEZ units.
Click here to read Highlights of Annual Supplement (2013-14) to the Foreign Trade Policy 2009-14.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Studio Priyanka Rajiv

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

Kevin Nelson

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

Johan Berlin
InvestKonsult Sweden AB

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

Marcel Alberts

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

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search