Raise duty free limit for leather garments to 5%: CLE
19 Sep 19 2 min read
Hailing the recent government measures to boost exports, the Council for Leather Exports (CLE) has demanded raising the duty free limit for leather garments to 5 per cent to help raise shipments. India is the second largest exporter of leather garments and enhancing the duty free limit will help achieve the top position, CLE chairman Panaruna Aqeel said.
The current limit is 3 per cent of freight on board (FOB) value of exports. Such a decision will help revive exports from this segment, which has declined by about 13 per cent this year, Aqeel said.
Easy and timely availability of credit with affordable interest levels is extremely important for leather and footwear sector as this alone can help in tapping the huge opportunities available in global markets, he said in a statement.
He added that priority sector lending norms for export finance would galvanise the sector, particularly the micro, small and medium enterprises that are affected by the slowdown.
Currently, India’s export of leather and its products stands at about $6 billion. Major export destinations include Europe and the United States. Leather and leather products exports dipped by about 4 per cent to $473 million in July. (DS)
Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.
The current limit is 3 per cent of freight on board (FOB) value of exports. Such a decision will help revive exports from this segment, which has declined by about 13 per cent this year, Aqeel said.
Easy and timely availability of credit with affordable interest levels is extremely important for leather and footwear sector as this alone can help in tapping the huge opportunities available in global markets, he said in a statement.
He added that priority sector lending norms for export finance would galvanise the sector, particularly the micro, small and medium enterprises that are affected by the slowdown.
Currently, India’s export of leather and its products stands at about $6 billion. Major export destinations include Europe and the United States. Leather and leather products exports dipped by about 4 per cent to $473 million in July. (DS)
Fibre2Fashion News Desk – India
Popular News
|
German brand Puma teams up with KidSuper to redefine sportswear |
|
India urged to closely monitor progress of Bangladesh-Japan EPA talks |
|
Bangladesh mulls VAT exemption for recycled fibre industry |
|
UK manufacturing sector sees improved sentiment in April: CBI |
|
Chinese spandex hits new low in April, sheds 65% of 2021’s peak value |
|
KBR to license Phenol tech for SABIC's China project |