'Sops under MEIS to boost Indias cotton textile exports'
Deepak Kumar | The Dollar Business The inclusion of cotton fabric among the list of products for giving duty benefits under the Merchandise Exports India Scheme (MEIS) is likely to revive India’s cotton exports which have been going through a rough phase in recent months, say experts. During September this year, exports of cotton yarn and made-ups fell by 3.58 % to $911 million from the last year’s $945 million. Exports of textile & clothing sector in September registered a decline of 5.71%, while the garment sector as a whole witnessed a negative growth of 12.02%. During the first six months of the current financial year, outbound shipments of cotton yarn contracted by 2% to $5.16 billion from $5.28 billion registered ...
TPP pact likely to hit Indias foreign trade
Deepak Kumar | The Dollar Business As the United States, Canada, Japan and nine Pacific Rim nations join the Trans-Pacific Partnership (TPP), Indian exports bodies have asked the government to expedite free trade agreements (FTAs) with various countries to balance the global trade. Earlier this month, 12 countries agreed to allow preferential trade between them under the Trans-Pacific Partnership framework. Though these countries are yet to ratify the agreement, the new trade bloc can become a challenge for India which aims to increase its goods and services exports to $900 billion by 2020. India already has free trade agreements with some of the TPP members. “To counter TPP, India will need to come up with an effective FTA (free trade agreements) ...
Export bodies seek govt attention to arrest falling exports
Deepak Kumar | The Dollar Business Expressing concerns over continuous fall in overseas shipments, export bodies have called for immediate intervention from the government to draw a roadmap to boost the international trade. On Monday, the Director General of Foreign Trade (DGFT) is likely to hold a meeting with exporters and discuss measures to revive the sector. “We have a meeting with the DGFT on Monday next week. We have been requesting the government for over two-three months to set up a meeting with all the council chairmen, who will discuss about the major hindrances before the industry,” S C Ralhan, President of the Federation of Indian Export Organisations (FIEO), told the Dollar Business. Ralhan said the government must look into some ...
Indias exports decline further; exporters say it is a wake-up call for government
Himanshu Vatsa | The Dollar Business India’s exports reduced to $22.3 billion in May this year, registering a steep fall of 20.19% from the same month a year ago. According to the Commerce Ministry data released today, the total merchandise exports in the first two months of the current fiscal was worth $44.4 billion, down 17.21% from $53.6 billion registered during the same period last year. The country’s exports have been witnessing negative growth since past six months. In March 2014, the exports saw 21% fall, steepest in the last six years. Falling exports has become a major concern for Indian exporters and policy makers. Experts say that downward prices of crude oil and major commodities in the international ...
Exporters body demands clear cut policy for MSME sector, promote exports
Himanshu Vatsa | The Dollar Business The government should come up with a “clear cut” policy for the micro, small and medium enterprises (MSME) sector, to encourage small-scale industries to boost exports, the Delhi Exporters Association said. The exporters’ body has already submitted its demand to the government in this regards. "The government should come out with a clear cut policy to encourage exports from India, including exports on manufacturing basis, especially for MSME products and those from tiny/cottage industry sector," the association said in a press statement. “Actually, the government is too slow when it comes to action and implementation. In 2002, we were promised a separate export corridor by the previous UPA government. But nothing has been ...
