Home / Knowledge / News / Textiles / SRTEPC welcomes Govt steps to boost textile exports
SRTEPC welcomes Govt steps to boost textile exports
19
Nov '15
Anil Rajvanshi
Anil Rajvanshi
The Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) has welcomed the initiative of the Central Government to boost the exports of textiles made of Man-made fibres for B&C group of countries under the MEIS Scheme. In the original policy issued in April 2015 there was no incentive for export of such textiles for Africa and Latin American countries falling under the B&C category. While this will be a definite booster for increasing our export of textiles to non-conventional markets, few items have skipped the attention of the authorities, it said in a press release.

“India, being the largest producer of Polyester & Viscose in the world can supply polyester/viscose blended spun (P/V) yarn to the world for making Apparels for most of the uses. In the current year the export of P/V spun yarn falling under Chapter 55 has dropped by almost 19 per cent due to non-competitiveness as compared to China. There is a huge market for such yarn and the same needs to be included under MEIS for B&C countries also where India can definitely secure a large share of exports in this segment,” SRTEPC Chairman Anil Rajvanshi said.

Referring to the revised All Industry rates of Duty Drawback rates that becomes effective from November 23, 2015, the SRTEPC said that while rates have been increased in some of the cases like cotton made-ups and readymade garments of cotton and certain fabrics, the rates for the same items manufactured from Man-made fibre have not been simultaneously increased. One of the most commonly exported fabrics made of P/V falling under Chapter Heading 5515 has got a setback as Drawback rates on this has been reduced.

“SRTEPC requests the Drawback Directorate under MOF to kindly look into it and correct the anomaly in the Made-ups and Fabrics made of PV accordingly. Though, the Drawback rates announced by the Government are by and large satisfactory except for some of the above items, which have been reduced despite the increased competition from China,” Rajvanshi said.

The SRTEPC chief said the Government's decision to approve 3 per cent interest equalisation scheme on pre and post shipment rupee export credit applicable from April 2015, will give an impetus to the falling exports of the country and should be uniformly applied all exporters without any discrimination. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Textiles | On 22nd Nov 2017

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Karl Mayer, a technology and market leader in textile machinery from...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Bani Batra

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

Silvia Venturini Fendi
Fendi s.r.l

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

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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