Home / Knowledge / News / Textiles / Handicraft exporters disappointed with budget
Handicraft exporters disappointed with budget
27
Feb '10
While reacting favourably to the only point of the Union Budget for 2010 related to the Handicraft sector, Mr. Raj Kumar Malhotra, Chairman, Export Promotion Council for Handicrafts(EPCH) thanked the Government for extending the concessional export finance regime for handicrafts sector for one more year till March 31, 2011.

Mr. Malhotra said that “Union Finance Minister Pranab Mukherjee's announcement for extending the interest subvention of 2 per cent for one more year is considered as a relief to exporters of handicrafts, handlooms, carpets and small and medium enterprises.” Earlier, the scheme was to expire by the end of the current financial year on March 31, 2010.

Council Chairman also expressed his disappointment for not considering the major issues of Section 10B (A) relief for exemption of Income Tax for handicraft exporters.

Also, the relief of Import Duty for tools and fixtures and a relief on Service Tax for the membership of the Councils and participation in the fairs and exhibitions have not been included in the Budget.

Mr. Malhotra stated that the overall impact of the Union Budget is not labour-intensive sectors friendly such as Handicrafts exports. “These sectors were badly hit by the global economic meltdown and the extension of this relief by one more year would give them a new lease of life,” he added.

Handicrafts sector provides direct employment to over six million people and during the economic slow down in the last two years, about half a million people had lost their source of livelihood.

EPCH is the nodal export promotion body in India under the aegis of the Ministry of Textiles, Govt. of India.

Export Promotion Council for Handicrafts

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

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...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search