Interviews
Handicraft trade expresses gratitude to commerce minister
25 Jan '10
2 min read
A delegation of handicraft exporters, headed by Chairman of Export Promotion Council for Handicrafts (EPCH) Mr. Raj Kumar Malhotra expressed its gratitude to Mr. Anand Sharma, Union Minister of Commerce & Industry for offering support to handicraft sector and taking policy measures during the economy crisis.
During the meeting with the Union Minister of Commerce & Industry, handicraft exporters also submitted a report on “Impact Appraisal of Initiatives” announced by Ministry of Commerce for the benefit of handicraft sector.
Mr. Sharma had offered a boost to country's Handicraft Sector through various incentives to maintain pace with the growing opportunities in this sector and to attain global demands as well as consumer preferences.
Incentives provided by the Minister, includes, counting all handicraft items under Vishesh Krishi Gramoudyog Yojna entitling 5 percent duty credit scrip under new special focus product scheme, extension of interest subvention of 2 percent, classifying Jaipur, Srinagar & Anantnag under town of export excellence, no custom duty for handicrafts sector under EPCG, export obligation extension, status holder getting duty credit scrip at 1 percent of the value of previous exports, special spur for opening showrooms and warehouses in Latin American Countries.
Moreover, EPCH will also receive assistance to establish warehouse and showroom in Latin America, through this stimulus package announced by the Ministry of Commerce, informed Mr. Malhotra. This would prove to be helpful to improve the exports to new markets and penetrate the untapped markets.
Extension of 2 percent interest subvention for labour intensive sectors like handicrafts and request to RBI to instruct commercial banks for non crystallization of overdue export proceeds for six months from the due date for handicraft and carpet sectors will also escalate the handicraft exports at this critical stage, added Mr. Malhotra.
During the meeting with the Union Minister of Commerce & Industry, handicraft exporters also submitted a report on “Impact Appraisal of Initiatives” announced by Ministry of Commerce for the benefit of handicraft sector.
Mr. Sharma had offered a boost to country's Handicraft Sector through various incentives to maintain pace with the growing opportunities in this sector and to attain global demands as well as consumer preferences.
Incentives provided by the Minister, includes, counting all handicraft items under Vishesh Krishi Gramoudyog Yojna entitling 5 percent duty credit scrip under new special focus product scheme, extension of interest subvention of 2 percent, classifying Jaipur, Srinagar & Anantnag under town of export excellence, no custom duty for handicrafts sector under EPCG, export obligation extension, status holder getting duty credit scrip at 1 percent of the value of previous exports, special spur for opening showrooms and warehouses in Latin American Countries.
Moreover, EPCH will also receive assistance to establish warehouse and showroom in Latin America, through this stimulus package announced by the Ministry of Commerce, informed Mr. Malhotra. This would prove to be helpful to improve the exports to new markets and penetrate the untapped markets.
Extension of 2 percent interest subvention for labour intensive sectors like handicrafts and request to RBI to instruct commercial banks for non crystallization of overdue export proceeds for six months from the due date for handicraft and carpet sectors will also escalate the handicraft exports at this critical stage, added Mr. Malhotra.
Fibre2fashion News Desk - India
Popular News
Leave your Comments
Editor’s Pick
Folker Stachetzki
Brother Internationale Industriemaschinen GmbH
Nailya Belkacemi
Pattern Cutting Studio Ltd
Cary Vaughan & Jenna Wilson
Label - ace&Jig
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)")
