Special package to generate 11 lakhs jobs in made ups sector
The Dollar Business Bureau The next three years for the made ups sector of India may witness healthy employment generation with the Cabinet approving a special package for the domain, as per information released by an industry body. According to Cotton Textiles Export Promotion Council (TEXPROCIL) Chairman Ujwal Lahoti, the special package has been targeted to create large scale direct and indirect employment to cover upto 11 lakh persons. “It will lead to strengthening exports of made ups at the same time,” he added. Calling it a “positive move by the government”, Lahoti said that the exporters will get the much-needed respite after this announcement as they face a duty disadvantage in the main market of EU as compared to products from competing ...
India needs concrete plans to push back engineering exports: Industry
Deepak Kumar | The Dollar Business Expressing concern over slowdown in India’s engineering exports, the industry has asked the government to come up with some concrete action plans to put back its international trade on the growth trajectory. In the previous financial year, total engineering exports amounted to $70.6 billion, up 15% from about $62 billion in 2013-14. The initial exports target for the year 2015-16 was $80 billion. The country’s export of engineering goods fell by 29.5% to $4.49 billion in August 2015 from $6.38 billion in August 2014, according to the government data. “The government needs to come up with some concrete schemes to push its exports. It needs to relook at the MEIS (Merchandise Exports from India) scheme ...
Call for removal of inverted duty on fiber exports
The Dollar Business Bureau Concerned over countries like China importing coir raw material from India and exporting finished products to other countries, SN Tripathi, Coir Board Chairman and Joint Secretary in the MSME Ministry has suggested removal of inverted duty structure to protect the interests of domestic coir industry. The Minister has also sought doubling of funds for the ministry (Rs 68 crore at present) and proposes to introduce a Technology Upgradation Fund (TUF) like scheme for the coir sector. "This year our budget is only Rs 68 crore. We want it to be doubled next year so that the coir industry gets a big boost," Tripathi said. Under inverted duty structure, finished goods are taxed at lower rates than ...
