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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 ...

In the previous years budget there was an applicable duty on cotton yarn. However, the Govt made it a point in this budget, to announce that duty on cotton yarn was made nil, saysKavita Gupta, Textile Commissioner, GoI Aadhira Anandh | The Dollar Business Kavita Gupta, Textile Commissioner, GoI The Union Budget of 2016-17 has come as a relief for the textile industry. The basic customs duty on fibers was reduced from 5% to 2.5%. Similarly, there is no mandatory duty imposed on cotton yarn. In the previous years budget there was an applicable duty on cotton yarn. However, the Govt made it a point in this budget, to announce that duty on cotton yarn was made nil. This years budget has recognised the ...

Deepak Kumar | The Dollar Business India’s cotton textiles industry has asked the government to expedite the free trade agreement (FTA) talks with the European Union, Australia and Canada so as to remove trade barriers and ensure access to greater markets for textile exporters.  “There is a scenario of tariff preference. They are looking at Canada, Australia and other countries we don’t have FTA with. There are other components involved in it. We are pushing for it and we expect these things to be taken up soon,” the Cotton Textiles Export Promotion Council (TEXPROCIL’s) Executive Director Siddhartha Rajagopal told The Dollar Business. In August 2015, cotton textiles exports declined by 7.39% to $863.18 million as compared to $932.02 in August last ...

Himanshu Vatsa | The Dollar Business Days after the government announced a revised list of textile products eligible for benefits under Merchandise Export from India Scheme (MEIS), industry leaders said that excluding knitted fabric from the list will have adverse impact on the country’s exports. In a fresh notification issued on July 16, the Directorate General of Foreign Trade (DGFT) revised the list of textile products and countries importing those products from India for giving credit benefits to exporters. As per the revised list, textile items shipped to European countries like Norway, Switzerland, Iceland and Liechtenstein will be eligible for duty credit scrip up to 5%. The fresh list also included exports of fabrics – both woven and knitted traded under various ...