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Textiles export benefits continued in FTP, Dr. Srinivasan
28
Aug '09
SIMA Chairman
SIMA Chairman
The Indian textile industry has been facing an unprecedented crisis during the last two years due to economic melt down and upto 40% drop in exports during the recent period. Therefore, the industry has been pleading the Government to announce a special package for the textile industry on par with the competing countries like China and Pakistan which had increased the export benefits by 6 to 7% during the last year.

The industry has also been requesting the Government to increase the export benefit by 4 to 6% to neutralize the State levies and other infrastructural deficiencies caused to enable the Indian textile industry to regain its growth rate in its textile exports.

In a press release issued here, The Southern India Mills Association (SIMA) Chairman, Dr.K.V.Srinivasan, has hailed the FTP 2009-14 for extending the DEPB Scheme beyond 31.12.2009 till 31.12.2010. Dr.Srinivasan has also welcomed the announcement of enhancing the incentives for Focus Market Scheme from 2.5% to 3% and for Focus Product Scheme from 1.25% to 2%. Dr.Srinivasan said that these incentives would help the textile industry to increase its exports. However, he has said that the Government could have increased these benefits substantially to enable the industry to revive from the recession quickly.

Dr.Srinivasan while appreciating the FTP for introducing the EPCG Scheme at Zero Duty, has stated that since all the textile exporting mills have made huge investments for upgrading their technology under Technology Upgradation Fund Scheme, the announcement that zero percent EPCG Scheme cannot be availed while availing the benefit under TUF Scheme will hardly benefit any exporter.

Therefore, he has pleaded the Government to remove the condition so as to enable all the mills to avail the benefits granted under the current FTP and enhance their competitiveness. SIMA Chairman has pleaded to the Government to consider the refund of State levies and other infrastructural costs ranging from 4 to 6% (4% for yarn, 5% for fabrics and 6% for made-ups) while revising the duty drawback rate.

The Southern India Mills Association


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