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

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Paolo Ocleppo
Sandvik Hyperion

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

Ashok Desai
Bombay Textile Research Association

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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