Home / Knowledge / News / Textiles / TEXPROCIL welcomes Foreign Trade Policy
TEXPROCIL welcomes Foreign Trade Policy
31
Aug '09
Reacting to the announcement of new Foreign Trade Policy Shri V.S. Velayutham, Chairman, Texprocil said that "We welcome the Foreign Trade Policy which incorporates various measures aimed at helping the sagging textile exports from India. However, a lot more could have been done considering the steep decline in T&C exports from India during recent times. Indian textile industry was expecting a lot for value added textile sector such as Cotton fabrics and Cotton Madeups.”

“The ambitious targets set up by the government in the New Policy such as achieving an annual export growth of 15% with an export target of US$ 200 billion by March 2011 and the long term goal of doubling India's share in global trade by 2020 are possible to achieve only when due importance is given to the Textile export sector" he said.

While expanding the Market Linked Focus Product Scheme (MLFPS), products such as Madeups, Knitted and Crocheted fabrics, Synthetic Textile fabrics have been included in the scheme. Other textile products of great export value such as Woven fabrics and Denim should also have been included in the scheme. The government should not have linked the additional duty credit scrip of 1% given to the "status holders" with the Technological Upgradation Fund Schemes (TUFS), as this will impact much needed modernization of manufacturing facilities.

He urged the government to upwardly revise the DEPB rates for fabrics taking into account realistic value addition norms and exhaustive data submitted to the DGFT in this regard. Cautioning on the extensive support to the T&C sector in Pakistan in its First-ever Textile Policy announced recently, Shri Velayutham said "Our government will have to do a lot more for the textile sector without which it would be difficult to maintain our competitiveness considering the huge incentives provided to our exporters in competing countries.

It may be recalled that Pakistan's Textile Policy envisages increasing textile exports to the tune of US$25 billion by the year 2015 from the existing US $10 billion and has made provision for huge subsidies and incentives worth Rs 42 billion during the fiscal year 2009-10 alongwith subsidised export refinance at a reduced rate of 5 percent.

Cotton Textiles Export Promotion Council (TEXPROCIL)


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search