Home / Knowledge / News / Textiles / FIEO President presents six point charters to Commerce Minister

FIEO President presents six point charters to Commerce Minister

18
Jul '09
The interactive session with Commerce & Industry Minister points for consideration by Mr. A. Sakthivel, President, FIEO. The points are given below:

1. Continuation of DEPB scheme for next five years:The fate of DEPB scheme is uncertain and there is need to provide stability to the scheme as for many products, drawback rates are not available. Exporters are doing their costing factoring the rebate available under DEPB scheme.The scheme may, therefore, be extended for next five years.

2. Enhancement of incentives under various promotional schemes given in Chapter 3 of the Policy: The Foreign Trade Policy provides incentives through FPS, FMS, Market Linked Product Scheme and VKGUY where benefit ranges between 1.25% to 5%.Due to very low benefit under few schemes, exporters are reluctant to avail it. The export benefit under all these schemes should be a minimum of 3.75%. Some of the benefits under these schemes are expiring on 30th September, 2009.Benefit under all such schemes may be extended till 31st March, 2012.

3. Benefits to Status Holders: The Exim Policy provided various fiscal benefits to Status Holders which, of late, have been withdrawn. The non-fiscal benefits available to the Status Holders are also now available to other exporters based on their track record. The Status Holders may, therefore, be granted duty free benefits @ 10% of their preceding years exports so as to aggressively market the products and diversify the exports base.

4. Scheme to rebate State taxes: GST is likely to be introduced as dual GST one for Central taxes and other for State taxes. The merging of two into a comprehensive national GST will take a long time. Exports are already burdened with the incidence of State and local levies which for certain products in certain States may be as high as5 -6% of the FOB value. Foreign Trade Policy should therefore, announce a new scheme to rebate State and local levies on an average basis.

5. Scheme to promote branded products: Indian exports suffer due to global slowdown as they are mostly in price sensitive segment. Very few exports are being done in the individual brand of the company. It is an established fact that branded products have suffered less in the contracting market as compared to generic products. Government should promote exports of finished goods, assemblies, sub-assemblies in individual brands. Such exporters may be given additional benefits of 2% under focus schemes, exemption from value cap under DEPB/drawback schemes and grant of double weightage for recognition as Status Holders.

6. Zero duty EPCG Scheme: Due to constant reduction in customs duty, very less benefit is now available under EPCG scheme (basic customs duty ranges between 5 – 7.5% where EPCG allows such imports at 3%). EPCG duty should allow import of capital goods at zero duty. The concern of domestic capital goods industry is met through availability of deemed export benefits so as to provide them a level playing field.


Must ReadView All

Pic: Better Work

Apparel/Garments | On 24th Oct 2020

Positive change in Cambodian garment sector due to ILO BWP

Cambodian factories receiving the full package of services by Better...

Pic: Awaj Foundation

Apparel/Garments | On 24th Oct 2020

COVID erodes income of a third of Bangla apparel workers

Nearly a third of Bangladeshi garment workers suffered loss of...

Pic: Ralph Lauren

Fashion | On 24th Oct 2020

Ralph Lauren, Parity.org convene group to close gender gap

Ralph Lauren, which designs and markets premium lifestyle products,...

Interviews View All

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Top executives, Textile industry

Top executives
Textile industry

In 10 years' time, everything will have the responsible factor integrated

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Ken Butts,

Ken Butts

The mission of Swiss company Datacolor is to empower its customers to make ...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

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

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

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 2020

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


Advanced Search