Home / Knowledge / News / Textiles / Handicraft exporters disappointed with budget

Handicraft exporters disappointed with budget

27
Feb '10
While reacting favourably to the only point of the Union Budget for 2010 related to the Handicraft sector, Mr. Raj Kumar Malhotra, Chairman, Export Promotion Council for Handicrafts(EPCH) thanked the Government for extending the concessional export finance regime for handicrafts sector for one more year till March 31, 2011.

Mr. Malhotra said that “Union Finance Minister Pranab Mukherjee's announcement for extending the interest subvention of 2 per cent for one more year is considered as a relief to exporters of handicrafts, handlooms, carpets and small and medium enterprises.” Earlier, the scheme was to expire by the end of the current financial year on March 31, 2010.

Council Chairman also expressed his disappointment for not considering the major issues of Section 10B (A) relief for exemption of Income Tax for handicraft exporters.

Also, the relief of Import Duty for tools and fixtures and a relief on Service Tax for the membership of the Councils and participation in the fairs and exhibitions have not been included in the Budget.

Mr. Malhotra stated that the overall impact of the Union Budget is not labour-intensive sectors friendly such as Handicrafts exports. “These sectors were badly hit by the global economic meltdown and the extension of this relief by one more year would give them a new lease of life,” he added.

Handicrafts sector provides direct employment to over six million people and during the economic slow down in the last two years, about half a million people had lost their source of livelihood.

EPCH is the nodal export promotion body in India under the aegis of the Ministry of Textiles, Govt. of India.

Export Promotion Council for Handicrafts


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 23rd Jun 2021

Bangladesh looking to export resortwear & leisurewear to Maldives

The Bangladesh Garment Manufacturers and Exporters Association...

Pic: JHVEPhoto / Shutterstock.com

Fashion | On 23rd Jun 2021

PVH Corp to sell Van Heusen, Arrow brand trademarks to ABG

US’ clothing firm PVH Corp has entered into a definitive agreement to ...

Pic: Filati Biagioli Modesto

Fashion | On 23rd Jun 2021

Italian fashion houses Prada & Zegna acquire Filati Biagioli Modesto

Italian fashion companies Prada Group and Ermenegildo Zegna Group...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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


June 2021

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


Advanced Search