Steps to boost Textile Exports
Govt. of
India has been operating several schemes to boost textile
exports and has undertaken some initiatives with a view to
helping the textile exporting industry to overcome some inherent
disadvantages and to facilitate growth in exports of textiles
& textile products from the country. The main
objective of these schemes is to ensure availability of capital
goods and raw material to the manufacturers at globally
competitive rates
A number of
steps have also been taken to arrest the downslide of cotton
yarn exports such as removal of precondition of fulfillment of
Hank Yarn Obligation for cotton yarn exports; and granting
permission to export yarn without any count/domestic cotton use
restriction to 100% EOUs. Under the Export Promotion
Capital Goods (EPCG) Scheme, textile machinery both new &
second hand, can be imported at concessional rates of duty,
subject to time bound discharge of the prescribed export
obligations. The threshold limit for availment of zero
duty EPCG scheme has been lowered from Rs. 200 million to Rs. 10
million in respect of garment sector.
It can be
seen that the developments in the Textile Sector, the massive
investments in the Indian Textile Industry and the on going
modernisation process have helped the industry to become
competitive in the international markets. An increasing
number of units are entering value addition fields to meet the
needs of the global market. Endowed with the inherent
advantage of an assured supply of good quality raw material and
human skills, the industry is posed to be a leading player in
the international textile market.
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