Home / Knowledge / News / Textiles / New FTP to arrest declining trend of handicraft exports
New FTP to arrest declining trend of handicraft exports
Sep '09
Union Ministry of Commerce and Industry is going to establish two towns of Export Excellence at Srinagar and Islamabad in J&K, under its new Foreign Trade Policy (FTP) for the year 2009-2014. The global slowdown has resulted in a steep plunge of handicraft exports.

This is the first time, that the handicraft sector has received attention and due recognition in the FTP by including all handicrafts items as 'Special Focused Products' and making them entitled to 5 per cent duty credit scrips. The special focused products shall be granted duty scrips equivalent to 5 per cent of F.O.B. value of exports for shipments made from 27 August, 2009 onwards.

There are a number of government's initiatives in this new FTP to curtail the declining trend of country's handicraft exports, stated Mr. Raj Kumar Malhotra, the Chairman of Export Promotion Council of Handicrafts (EPCH). This scheme will assist handicraft sector to stand competitively in the international market.

All the handicraft products had not been covered in the earlier scheme of Vishesh Krishi and Gram Udyog Yojana (VKGUY), but the 'Special Focused Products' Scheme is much wider and covers all the handicraft items. In order to promote the handicrafts from these regions, a short term plan has also been framed out by the EPCH.

The handicraft sector has also been included for higher allocation in the Market Development Assistance (MDA) and Market Access Scheme (MAI), provided by the Ministry of Commerce.

A few programs have also been prepared by the council to market the products of handicraft sector in focused as well as general markets. Many programs of Reverse Buyers-Seller Meets (RBSM) will also be conducted under this program. This scheme is expected to benefit the exporters.

EPCH's recommendation to reduce the customs duty on Export Promotion Capital Goods Scheme (EPCG) from 3 percent to 0 percent in this FTP has been accepted. The export obligation shall be six times of the custom duty and same is to be fulfilled in six years.

Fibre2fashion News Desk - India

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mark Paterson
Technical Absorbents Ltd

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

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

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

Ritu Kumar
Label Ritu Kumar

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

Mike Hoffman
Gildan Activewear SRL

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search