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SRTEPC : New FTP is growth-oriented

28
Aug '09
Shri G. K. Gupta
The Government has announced the Foreign Trade Policy for 2009-14 on 27th August, 2009. “The new Foreign Trade Policy for 2009-14 is positive, growth –oriented and in the right direction,” Shri Ganesh Kumar Gupta, Chairman of The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), said.

The increase in the Duty credit entitlement rate from 2.5% to 3% under the Focus Market Scheme will certainly encourage the exporters to venture into the Latin American, CIS and the African markets especially taking into account the depressed market condition in the US and the European markets, according to Shri G. K. Gupta. The extension of the DEPB scheme up to 31.12.2010 will provide the necessary stability for the exporters in taking a long term perspective while negotiating export business, according to the SRTEPC Chairman.

The Foreign Trade Policy has included exports of Synthetic textiles fabrics to certain specified countries, such as Algeria, Egypt, Kenya, Nigeria, South Africa, Tanzania, Brazil, Mexico, Ukraine, Vietnam, Cambodia, Australia and New Zealand has been included under the market-linked Focus Product Scheme ( MLFPS). Further, technical textiles have been included under the Focus Product Scheme. Both these measures will provide the necessary encouragement to the exporters of synthetic & technical textiles, Shri Gupta observed.

Other measures such as the introduction of the zero duty EPCG scheme, duty credit scrips for the status holders, increased funds allocation under the MDA and the MAI Schemes are all steps in the right direction, according to Shri Gupta. He, however, felt that more concrete measures should have been introduced in the Policy to help the exporters to overcome the difficult situation which they are in due to the current ongoing slowdown in the major export markets owing to the global economic recession.

Synthetic & Rayon Textiles Export Promotion Council (SRTEPC)


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