Home / Knowledge / News / Textiles / Bhilwara recognised as 'Town of Export Excellence' for textiles
Bhilwara recognised as 'Town of Export Excellence' for textiles
27
Feb '09
Shri Kamal Nath, Union Minister of Commerce & Industry, while announcing the major trade facilitation measures (supplement to the Foreign Trade Policy), here, said that a Special Package of Rs.325 crore would be provided for leather, textiles etc., for exports w.e.f. 1/4/2009 and added that export incentives have been provided for certain items like technical textiles, stapling machines and handmade carpets. Shri Ashwani Kumar, Minister of State for Industry and Shri G.K. Pillai, Commerce Secretary also attended the function.

In a mitigating effort to boost export amidst global slowdown, the Minister said that the recognition slab for Premier Trading Houses based on export turnaround has been reduced to Rs.7500 crore from Rs.10,000 crore.

Under EPCG (Export Promotion Capital Goods) Scheme, in case of decline of exports of the product (s) by more than 5%, the export obligation for all exporters of that product(s) will be reduced proportionately. This provision has been extended for the year 2009-10, for exports during 2008-09. He further added that export obligation period against advance authorisations has been extended up to 36 months.

Speaking on the occasion, Shri Nath said that from now on, for import of precious metals, following bodies have been added as nominated agencies viz., STCL Limited, Diamond India Limited, MSTC Limited, Gem & Jewellery Export Promotion Council and Star Trading House (only for gem & jewellery sector). He further added that import restrictions on worked corals have been removed to address the grievances of gems & jewellery exporters. He further added that authorized persons of gems & jewellery units in EOU will be allowed personal carriage of gold in primary form up to 10 kgs. in a financial year, subject to RBI and customs guidelines.

As regards DEPB (Duty Entitlement Pass Book) Scheme, Shri Nath informed that as of now, duty credit scrip can be used for payment of duty only on items which are under free category, as a change, this unitilisation is now extended for payment of duty for import of restricted items also; duty credit scrip under DEPB will now be issued without waiting for realization of export proceeds; value cap applicable under DEPB have been revised to two products.

In order to boost rural exports, the Minister announced that a re-credit of 4% SAD, in case of payment of duty by incentive scheme scrips such as VKGUY (Vishesh Krishi and Gram Udyog Yojana), FPS and FMS, have been allowed.

Bhilwara in Rajasthan and Surat in Gujarat have been recognized as Towns of Export Excellence, for textiles and diamonds respectively.

Shri Nath announced that a new office of Directorate General of Foreign Trade will be opened at Srinagar to increase the export potential and employment generation. He further added that electronic message transfer facilities for advance authorisation and EPCG Scheme established for shipments from EDI (electronic data interchange) ports w.e.f. 1/4/2009.

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Eamonn Tighe
Nature Works LLC

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

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

Prathyusha Garimella
Prathyusha Garimella

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

Wendell Rodricks
Wendell Rodricks

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

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 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