Showing posts with label Extension Of Export Benefit. Show all posts
Showing posts with label Extension Of Export Benefit. Show all posts

Saturday 21 November 2015

Textile Industry Welcomes Extension Of Export Benefit

Textile Industry Welcomes Extension Of Export Benefit


The textile industry of India has been facing a major blow, one of the worst in its history, pertaining to the slowdown that hit the global textile and clothing markets in April 2014. Due the termination of region FTA by other competing nations, exports from India have encountered an all-time low owing to its tariff barriers, expensive cotton, high fibre price and the unprecedented delay in the pay-out of the TUF subsidies. Given the scenario, the industry had long been demanding the extension of additional incentives through the Merchandise Export from India Scheme (MEIS). The demand also pressed for a grant of 3% interest with respect to the export of all textile merchandise, at least till the time that the exports reach their projected potential growth.