Home / Knowledge / News / Textiles / 'Textile industry needs market access policy'
'Textile industry needs market access policy'
28
Sep '15
With textile exports continuing to decline, the Southern India Mills' Association (SIMA) has said that there is an urgent requirement for a policy for the textile industry to ensure access to global markets to enable it to have a level playing field in the face of a production glut.

India's textile exports declined in August 2015 for the ninth straight month by 20.66 per cent with overall exports reaching $26.8 billion, while exports of cotton textiles registered a negative growth of 7.39 per cent as exports touched $863.18 million in August, as against $932.02 million in August 2014, the newly elected SIMA chairman M Senthil Kumar told reporters in Coimbatore.

He described the continuing decline in exports as a “serious concern” and said the Centre needs to take urgent action to neutralize the adverse effects of preferential access given to competing nations like Bangladesh, Cambodia, Pakistan, South Korea, Turkey and Vietnam by major importers like the EU, Canada and China.

Abnormal duties imposed on Indian textiles are severely affecting Indian exports, he said.

Kumar said the government should expedite conclusion of Free Trade Agreements with China, EU, Australia, Canada and other countries to enable India's textile sector to gain market access.

Kumar urged the government to extend three per cent incentive for yarn, five per cent for fabrics and seven per cent for garments and made-ups till FTAs were signed as interim package, as the interest rate in India was between 12 per cent and 14 per cent.

He sought extension of three per cent interest subvention for all textile products for a level playing field.

The new SIMA chief also requested the government to allocate Rs 6,500 crore which has already been recommended by the Textiles Ministry to clear all pending Technological Upgradation Fund subsidies, including blackout period, committed liabilities and to keep the scheme live till March 31, 2017 and bring it in a new format in the next five year plan.

Kumar called for removal of import duties, anti-dumping duties and reduction of Central Excise duty on man-made fibre from 12.5 per cent to six per cent and asked the government to expedite implementation of GST by covering textiles and clothing products under the lowest slab considering the nature of the industry (predominantly SMEs).

The SIMA chairman also said that another major policy decision required for the smooth functioning of the textile industry was to extend subsidies directly to cotton farmers and de-link Cotton Corporation of India from cotton trade. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mikes Photos from Pexels

Apparel/Garments | On 17th Oct 2018

Bangladesh garment exports swell 14.66% in Q1 FY19

Readymade garment exports from Bangladesh increased by 14.66 per cent ...

Courtesy: WTO

Textiles | On 17th Oct 2018

WTO rejects Panama claim for $210-mn sanctions on Columbia

A World Trade Organisation (WTO) panel recently rejected Panama’s...

India ranks 147th in Oxfam world inequality index

Textiles | On 17th Oct 2018

India ranks 147th in Oxfam world inequality index

India has been ranked 147th among 157 countries in a new worldwide...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

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

Amrit Sethia, SOIE

Amrit Sethia
SOIE

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

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Abhishek Pachauri,

Abhishek Pachauri

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

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search