Home / Knowledge / News / Textiles / SRTEPC welcomes Govt steps to boost textile exports
SRTEPC welcomes Govt steps to boost textile exports
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

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search