Home / Knowledge / News / Textiles / SIMA appeals for govt help to revive cotton yarn exports
SIMA appeals for govt help to revive cotton yarn exports
12
Oct '15
The Southern India Mills Association (SIMA) has appealed to the Central Government to take steps to help the textile sector to revive cotton yarn exports.

In a memorandum to Union Minister of State for Commerce and Industry Nirmala Sitharaman, the Southern India Mills' Association (SIMA) said the textile industry was performing well till the end of 2013.

However, exports have now been hit as the Indian mills face competition from Pakistan, Vietnam and Bangladesh.

It said that while India has extended duty free access for Bangladesh, a similar concession has not been given to India. SIMA said the Centre should negotiate with Bangladesh to remove the 36 per cent duty on Indian cotton yarn.

SIMA said cotton yarn exports have declined to 90 million kg a month now as against 120 million kg 18 months ago.

Making the Indian textile sector more competitive in the global market will enable it to raise its turnover from the current US $110 billion to US $500 billion in a decade, it said in the memorandum.

The steps include immediate disbursement of money under the Technology Upgradation Fund (TUF) scheme and three per cent interest subvention for textile products.

The textile industry started facing problems from the end of 2013 as competing countries like Bangladesh, Pakistan, South Korea, Vietnam and Cambodia benefit more by the open-window market access.

It said that at a time like this, the undue delay in disbursing funds under TUF scheme has put the entire industry in the country under severe financial stress.

The Centre should also provide three percent interest subvention for textile products as the interest rate in the competing countries is much less than in India. Besides, the Central excise duty should be reduced from 12.5 per cent to 6 per cent, it said. SIMA also demanded exemption from terminal excise duty for domestic capital goods under the Export Promotion Capital Goods (EPCG) scheme. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ritu Kumar
Label Ritu Kumar

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

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

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

news category


Related Categories:
July 2017

July 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