Date amended to apparel and clothing under export obligation period
The Dollar Business Bureau The DGFT issued a notification on 28 Sept via notice no.- 35/2015-2020, detailing that the “Export Obligation Period for Special Advance Authorization Scheme for export of articles of apparel and clothing accessories” has been amended to read as 14 Feb 2014 and not 2013 as mentioned in notification no- 29/2015-2020. In other words, this gives exporters of apparel and clothing accessories 18 months of EO from the date of clearance by the customs authority as allowed in Para 4.22(i) of FTP ie, from the date of issue of Authorisation and not from the date of import as specified earlier. In addition the apparel and clothing accessories exporters shall enjoy the privileges already specified in Para 4.42 (a) - wherein Period ...
Indias apparel exports to double in five years
Himanshu Vatsa | The Dollar Business India’s apparel export is likely to meet its target of $18 billion during the current financial year and expected to be double in the next five years, say industry experts. According to the government data, the export of clothing and apparel items reached $16.8 billion last year, registering 12% growth year-on-year. Clothing Manufacturing Association of India (CMAI) has estimated that the industry will be able to achieve its export target of $18 billion this year. Indian exporters face tough competition from China, Bangladesh, Vietnam and other countries having cheaper manpower. But experts say that increasing labour costs in these countries will favour Indian exporters in the coming years. Exporters also hope to earn better profit due ...
