Home / Knowledge / News / Textiles / TEXPROCIL welcomes Foreign Trade Policy

TEXPROCIL welcomes Foreign Trade Policy

31
Aug '09
Reacting to the announcement of new Foreign Trade Policy Shri V.S. Velayutham, Chairman, Texprocil said that "We welcome the Foreign Trade Policy which incorporates various measures aimed at helping the sagging textile exports from India. However, a lot more could have been done considering the steep decline in T&C exports from India during recent times. Indian textile industry was expecting a lot for value added textile sector such as Cotton fabrics and Cotton Madeups.”

“The ambitious targets set up by the government in the New Policy such as achieving an annual export growth of 15% with an export target of US$ 200 billion by March 2011 and the long term goal of doubling India's share in global trade by 2020 are possible to achieve only when due importance is given to the Textile export sector" he said.

While expanding the Market Linked Focus Product Scheme (MLFPS), products such as Madeups, Knitted and Crocheted fabrics, Synthetic Textile fabrics have been included in the scheme. Other textile products of great export value such as Woven fabrics and Denim should also have been included in the scheme. The government should not have linked the additional duty credit scrip of 1% given to the "status holders" with the Technological Upgradation Fund Schemes (TUFS), as this will impact much needed modernization of manufacturing facilities.

He urged the government to upwardly revise the DEPB rates for fabrics taking into account realistic value addition norms and exhaustive data submitted to the DGFT in this regard. Cautioning on the extensive support to the T&C sector in Pakistan in its First-ever Textile Policy announced recently, Shri Velayutham said "Our government will have to do a lot more for the textile sector without which it would be difficult to maintain our competitiveness considering the huge incentives provided to our exporters in competing countries.

It may be recalled that Pakistan's Textile Policy envisages increasing textile exports to the tune of US$25 billion by the year 2015 from the existing US $10 billion and has made provision for huge subsidies and incentives worth Rs 42 billion during the fiscal year 2009-10 alongwith subsidised export refinance at a reduced rate of 5 percent.

Cotton Textiles Export Promotion Council (TEXPROCIL)


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

Textile Industry, Head honchos

Textile Industry
Head honchos

Opportunity now to reimagine processes & systems in a digital environment

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Hans Gerhard Wroblowski,

Hans Gerhard Wroblowski

Germany's Monforts is a leading manufacturer and exporter of textile...

Mark Tokuhara,

Mark Tokuhara

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

Simon Daplyn,

Simon Daplyn

Switzerland-based Sensient Imaging Technologies is a pioneer with a global ...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

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

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

<span style="font-size: 12px;">Designer Suman Nathwani talks about her...

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 2020

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


Advanced Search