Home / Knowledge / News / Textiles / Decline in export of textiles to USA
Decline in export of textiles to USA
09
Jul '09
As per the latest available provisional data of Directorate General of Commercial Intelligence & Statistics, Kolkata, India's textiles and clothing export to the US has indicated a growth of over 3.82% in Indian rupee terms and a decline of 8.19% in US dollar terms during April-February' 2008-09 over the corresponding period of previous year.

This information was given by the Minister of State for Textiles, Smt. Panabaaka Lakshmi in the Rajya Sabha, in a written reply to a question by Shri T.T.V. Dhinakaran. The US imports figures of textiles and clothing from top five countries including India during the period of January-April, 2009 are given below:-

The Government announced two stimulus packages on 7th December, 2008 and 2nd January, 2009 to boost India's exports including textiles exports. The measures announced under these packages, inter alia, include:-

Additional allocation of Rs.1400 crore to clear the entire backlog of Technology Upgradation Fund Scheme (TUFS).

All items of handicrafts to be included under 'Vishesh Krishi & Gram Udyog Yojana (VK&GUY)'.

Across-the-board cut of 4% in the ad-valorem Cenvat rate till 31.3.2009.

Interest subvention of 2% upto 31.3.2009 subject to a minimum of 7% per annum on pre and post-shipment export credit (since extended to 30.9.09 in the Union Budget 2009-10).

Provision of additional funds for full refund of Terminal Excise Duty/Central Sales Tax.

Enhanced back-up guarantee to ECGC to cover for exports to difficult markets/products.

Refund of Service Tax on foreign agent commissions of upto 10% of FOB value of exports as well as refund of service tax on output service while availing benefits under Duty Drawback Scheme.

Credit targets of Public Sector Banks revised upward to reflect the needs of the economy.

State Level Bankers Committee would hold meetings for resolution of Credit issues of MSMEs.

Guarantee cover under Credit Guarantee Scheme doubled to Rs. 1 crore with cover of 50%.

DEPB rates restored to pre - November, 2008 levels and extended till 31.12.2009.

Duty Drawback on knitted fabrics enhanced retrospectively from 1.9.2008.

Ministry of Textiles

Must ReadView All

Apparel/Garments | On 20th Jan 2017

Christopher & Banks revises fourth fiscal guidance

Specialty women's apparel retailer Christopher & Banks Corporation...

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

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...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

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

Johan Berlin
InvestKonsult Sweden AB

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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