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Extension of DEPB will boost exports of Made-up articles
28
Aug '10
Shri Ganesh Kumar Gupta, Chairman of The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), has welcomed the extension of the DEPB scheme till 30.06.2011 in the Annual Supplement to the Foreign Trade Policy – 2009-14, announced by the Government on August 23, 2010 and termed it as a positive step, as the exporters can now take a long-term perspective, while negotiating export business.

The Policy has also allowed the Duty free import of specified trimmings, embellishments etc., @ 3% on exports of polyester made–ups. SRTEPC has been representing to the Government for this facility, which is available to the exports of Cotton Made-ups. “I am glad that the Government has accepted the Council's Proposal and has given this facility, which will certainly give a big boost to the exports of Made-up articles” Shri Gupta said.

However, the SRTEPC Chairman pointed out that the facility has been restricted only to the exports of Polyester Made-ups and needs to be extended to the exports of all kinds of synthetic and blended Made-ups.

Exporters can now get EPCG Authorization by filing their application on annual basis without the need to file the application for individual capital goods from time to time. Further, the Policy also facilitates the issue of Advance authorization for Physical exports and deemed exports under the same Customs Notification. This will help the exporters in clubbing these two Authorizations.

Advance Authorization and the EPCG schemes are widely used by the synthetic textile exporters and, therefore, these provisions will encourage exports from this sector, Shri Gupta observed.

According to Shri Gupta, other initiatives, like the removal of the requirement of Chartered Engineer Certificate for Advance Authorization on self–declared basis, uploading the RCMC data by the EPCs on the DGFT's website, inclusion of more licensed certifying authorities for digital signatures etc., are all steps in the right direction, which will reduce transaction costs and simplify procedures for the exporters.

The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC)


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