Interviews
Man-made fibre textiles exports reach all-time high
27 Sep '08
5 min read
The Council has also initiated combined Mega Textile Shows as part of its promotional strategy and will be organising High Impact Shows in markets like Brazil, Argentina, South Africa & Japan. These Shows are being supported by the Government and entails involvement and participation of other textile Export Promotion Councils. The strategy is to present an integrated view of the entire Indian textile products across the value chain and thus to improve image of India as a modern & reliable supplier of textiles, Shri Saran added.
Besides these the Council will also be holding exclusive Exhibitions in target markets like Bangladesh, Sri Lanka, Mexico, Syria, Egypt, Morocco, Brazil, Russia, etc. in the current year, he said.
The Council also had the privilege of being part of High Level Delegations led by Hon'ble Union Minister of Textiles to Russia, Japan, UAE and Egypt and to South Africa, Brazil, Chile and Argentina led by Secretary (Textiles), Government of India. These delegations had the objectives of holding High Level trade discussions and exploring of provisions for FDI and joint ventures for the textile and clothing sector, the Chairman said.
While speaking about policy matters, the SRTEPC Chairman said that the reduction in Duty Drawback rates for 2008-09 announced by the Government recently has come as a disappointment for the Synthetic textiles exporters. For some products, especially “Yarns spun out of Manmade Staple fibre” the reduction is steep and disproportionate to the duty incidence.
And for another important export product “Polyester filament / texturised / twisted yarn” only the Customs portion of the Drawback rates has been announced which is a deviation from the past practice of announcing two separate rates for all the export products i.e one with Cenvat Credits and the other without availing of Cenvat facility.
The situation is further aggravated as the reductions in the rates have been effected at a time when our main competitor China has increased the export subsidies on Manmade fibre textiles w.e.f August 1, 2008 from 11% to 13%. The Council has made representations to the Government highlighting these issues and has requested for a review in the Drawback rates, the Chairman pointed out.
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Besides these the Council will also be holding exclusive Exhibitions in target markets like Bangladesh, Sri Lanka, Mexico, Syria, Egypt, Morocco, Brazil, Russia, etc. in the current year, he said.
The Council also had the privilege of being part of High Level Delegations led by Hon'ble Union Minister of Textiles to Russia, Japan, UAE and Egypt and to South Africa, Brazil, Chile and Argentina led by Secretary (Textiles), Government of India. These delegations had the objectives of holding High Level trade discussions and exploring of provisions for FDI and joint ventures for the textile and clothing sector, the Chairman said.
While speaking about policy matters, the SRTEPC Chairman said that the reduction in Duty Drawback rates for 2008-09 announced by the Government recently has come as a disappointment for the Synthetic textiles exporters. For some products, especially “Yarns spun out of Manmade Staple fibre” the reduction is steep and disproportionate to the duty incidence.
And for another important export product “Polyester filament / texturised / twisted yarn” only the Customs portion of the Drawback rates has been announced which is a deviation from the past practice of announcing two separate rates for all the export products i.e one with Cenvat Credits and the other without availing of Cenvat facility.
The situation is further aggravated as the reductions in the rates have been effected at a time when our main competitor China has increased the export subsidies on Manmade fibre textiles w.e.f August 1, 2008 from 11% to 13%. The Council has made representations to the Government highlighting these issues and has requested for a review in the Drawback rates, the Chairman pointed out.
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The Synthetic & Rayon Textiles Export Promotion Council
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