Home / Knowledge / News / Textiles / Dwindling textile exports seek Govt support
Dwindling textile exports seek Govt support
31
May '08
According to the export data of past four months, growth of textile industry has slowed down considerably. Since textile industry is one of the major pillars of economy, the experts are concerned and aggressively are attracting the attention of Government to this deteriorating situation.

The authorities are being urged to plan and draft support policies that, when introduced, will benefit the textile industry on the whole. With RMB appreciation re-entering an accelerated phase, the industry believes that July is probably the best time to promulgate related adjustment schemes.

It has been noted that weakening of exports is the most concerning issue. Thus, analysts advise that to improve the condition of export enterprises two measures need to be taken. Firstly, it is important to slow down the pace of RMB appreciation, in order to stabilize market scenario. Secondly, Government must pull back textile export tax rebate rates, reasonably.

Experts have pointed out that the pullback rate of textile export tax rebate rate and apparel export tax rebate rate should be different. They have proposed that the rebate-rate for textiles be pulled back to 13 percent and that for clothing be brought back to 15 percent. The proposal is awaiting approval of the State Council.

Another proposal that is yet to be approved, suggests a more flexible plan, so that export tax rebate and RMB appreciation form a correlated balance.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Apparel/Garments | On 19th Jan 2017

Asahi Kasei to display sustainable fibre at trade shows

Asahi Kasei, specialty Japanese fibre producer, will be displaying...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Eric Scholler
Groz-Beckert

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

Urs Stalder
Sanitized AG

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Robert Brunner
Devereux

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

Yash P. Kotak
Bombay Hemp Company

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
January 2017

January 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