Interviews
Rising rupee halts buoyant trend in man-made fibre textiles exports
07 May '07
3 min read
Shri Saran also observed that the operating costs are already higher in India due to high transaction costs and the recent hike in interest rates on pre-shipment and post-shipment credit by 1-3% have put added pressure on exporters. The SRTEPC Chairman informed that over the years the Council has displayed a very high degree of professionalism and is going forward with plans to work intensely on enhancing the product basket and add new markets in its portfolio.
Shri Saran also stressed the need to export more value added items and thus move up the value chain to safeguard against fluctuations. He added that notwithstanding the appreciation of the rupee; Council is planning deeper penetration of existing markets and entry into new markets.
Shri Saran lauded the recent initiatives of the Union Ministry of Textiles; including the visit of the High Level Textile Delegation led by Shri Shankersinh Vaghela, Hon'ble Union Minister of Textiles to Russia and Japan (of which Shri Saran was a member), which has opened up new opportunities for the Council.
Shri Saran also informed that South Africa is going to be a good market in future and in this connection mentioned that he was privileged to be a member of the High Level Delegation which visited South Africa recently under the leadership of Shri A.K. Singh, Secretary-Textiles, Government of India. He added that the recent Buyer-Seller-Meets held in South Africa which coincided with the visit of thedelegation have been helpful in further consolidating our share in this market.
Shri Saran emphasized that in the context of the appreciating Rupee; the Government should take special care to factor in the high transaction costs, service tax, and Fringe Benefit Tax etc. while announcing the new Duty Drawback and DEPB rates to maintain the competitiveness of our products.
Shri Saran also stressed the need to export more value added items and thus move up the value chain to safeguard against fluctuations. He added that notwithstanding the appreciation of the rupee; Council is planning deeper penetration of existing markets and entry into new markets.
Shri Saran lauded the recent initiatives of the Union Ministry of Textiles; including the visit of the High Level Textile Delegation led by Shri Shankersinh Vaghela, Hon'ble Union Minister of Textiles to Russia and Japan (of which Shri Saran was a member), which has opened up new opportunities for the Council.
Shri Saran also informed that South Africa is going to be a good market in future and in this connection mentioned that he was privileged to be a member of the High Level Delegation which visited South Africa recently under the leadership of Shri A.K. Singh, Secretary-Textiles, Government of India. He added that the recent Buyer-Seller-Meets held in South Africa which coincided with the visit of thedelegation have been helpful in further consolidating our share in this market.
Shri Saran emphasized that in the context of the appreciating Rupee; the Government should take special care to factor in the high transaction costs, service tax, and Fringe Benefit Tax etc. while announcing the new Duty Drawback and DEPB rates to maintain the competitiveness of our products.
The Synthetic & Rayon Textiles Export Promotion Council
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
