;
Home / Knowledge / News / Textiles / AEPC, SIMA welcome new measures under FTP 2015-20
AEPC, SIMA welcome new measures under FTP 2015-20
06
Dec '17
AEPC, SIMA welcome new measures under FTP 2015-20
The Apparel Export Promotion Council (AEPC) and The Southern India Mills’ Association (SIMA) have welcomed the new measures announced by the Indian government in its mid-term review of Foreign Trade Policy (FTP) 2015-20. Incentives worth Rs 8,000 crore, focus on MSMEs, labour-intensive segments and agriculture sector are among the highlights of the review.

“The mid-term review of the FTP 2015-20 has made provisions which will boost trade facilitation and ease of doing business. The extension of validity of scrips from 18 months to 24 months along with the provision of zero GST on sale of scrips are surely going to help the industry in a big way,” commented AEPC chairman Ashok Rajani.

“The other initiatives like the doing away with the testing of samples for drawback purpose and the introduction of e-sealing facility for exporters will lead to quick clearances of the consignment. This will not only help in easing the port congestion but will also aid in quick movement of the cargo. However, the exporters were hoping for measures which improve market access and cost competitiveness,” he added.

The mid-term review of FTP, released by the ministry of commerce and industry, has given thrust on ease of doing business, ease of trading across borders, exploring new export markets, new export products, simplification of procedures and processes and establishing National Trade Facilitation Committee headed by Cabinet Secretary to boost exports.

SIMA chairman P Nataraj has also appreciated the formation of National Trade Facilitation Committee (NTFC) under Cabinet Secretary to focus on transparency, technology, simplification of procedures, infrastructure augmentation, etc. In a press release, he said that the 24x7 customs clearance extended to 19 sea ports and 17 air cargo complexes would help exporters.

“The Government is yet to consider the long pending demand of including cotton yarn exports under MEIS and IES schemes and also to consider fabric exports under RoSL—that are essential to utilise the highly capital and labour intensive surplus production capacities in the spinning, weaving, knitting and processing segments,” said Nataraj.

He also stated the Government could have considered the industry’s demand of GST free domestic procurement against EPCG and Advance Authorization Scheme to boost exports under mid-term review. He hoped that the Government would soon announce the enhanced duty drawback rates for all textiles taking into account all the embedded/blocked levies and enable the exporters to continue to have the level of export competitiveness that they had under pre-GST era. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Vietnamese garment firms plan to boost exports to Canada

Apparel/Garments | On 11th Dec 2018

Vietnamese garment firms plan to boost exports to Canada

As Vietnam is yet to sign a free trade agreement with Canada, so the...

Courtesy: Alizilla

Textiles | On 11th Dec 2018

Belgium, Alibaba promote inclusive global trade under eWTP

The Belgian Government and China’s Alibaba Group recently announced...

Courtesy: Kai Pilger from Pexels

Textiles | On 11th Dec 2018

India's textile-apparel exports fell slightly in H1 FY19

India’s overall textile and apparel exports in H1 FY19 stood at $18.4 ...

Interviews View All

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Bani Batra,

Bani Batra

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

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

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

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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


December 2018

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

news category


Related Categories:

Advanced Search