Home / Knowledge / News / Textiles / Textiles export benefits continued in FTP, Dr. Srinivasan
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

Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
February 2017

February 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