Search Result for : Garment

The Dollar Business Bureau The Ministry of Textiles issued a notification on August 1, as a transitional arrangement for the period July-September 2017, exporters of garments and made-ups can claim remission of state levies on rates there prior to the introduction of GST. Under the remission of state levies (RoSL) garments and exporters of made-ups are entitled to claim refunds of the levies paid, from the Central government. Post GST many exporters were demanding that the government retain RoSL under the duty drawback scheme which was announced by the Central Government in 2016 as part of the Rs.6000 crore package, announced by the textile ministry. In a notification on August 1 which reads, ‘In order to support exporters of garments and made-ups, the Government ...

The Dollar Business Bureau The apparel exports from India recorded a momentous rise of 31.7% in April this year as compared to same month a year ago. In a statement to the media Apparel Export Promotion Council (AEPC) said “India’s apparel exports registered momentous growth of 31.7% in April 2017 compared to same period last year.” According to the data, the apparel sector has been witnessing a double-digit growth, after the introduction of disbursement of RoSL (Rebate of State Levies) scheme. During March-April, this year, the garment exporters were able to enhance their production capacity by about 30% for achieving such growth and employed around 5% more workers during this same period, the statement said. AEPC Chairman Ashok G Rajani, while attributing this growth to RoSL scheme, said, ...

Himanshu Vatsa | The Dollar Business India’s garment industry needs policy support along with incentives on urgent basis to achieve the annual export target, said Virender Uppal, Chairman of the Apparel Export Promotion Council (AEPC). Expressing concern over the falling growth rate of the country’s garment export from 9.2% in April to 5% in May this year, Uppal said, “Achieving the target of $18.7 billion in 2015-16 would be very ambitious task and difficult to achieve, unless, the recommendations of the AEPC are accepted and implemented.” According to the AEPC chairman, sliding demand in the US and European countries coupled with withdrawal of various incentives and interest subvention scheme by the government in the new foreign trade policy (FTP 2015-19) ...

Himanshu Vatsa | The Dollar Business Even as the government is likely to reintroduce the interest subvention scheme to encourage outbound shipment from the country, exporters say that the scheme should be implemented from retrospective effect. As per the interest subvention scheme enforced till March 2014, exporters used to get a rebate of up to 3% in the interest on their loan. According to Commerce Secretary Rajeev Kher, the government is in the process of reintroducing the scheme by the end of this month. Kher said that a decision to fix the rate of interest benefit and sectors to be included in the scheme is yet to be taken. Experts believe that such schemes will encourage mainly handicrafts, garments and other ...