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Textile Exporter’s Welfare Association (HEWA) has praised the Government of
India for launching various textile promotion schemes.
The
Union-Minister for Textile & Commerce, Piyush Goel and Union Minister for
Information & Broadcasting, Anurag Thakur declared that Government of India
has approved disbursal of Rs 560 billion arrear to the exporters under various
schemes such as MEIS, RoSL, RoSCTL and RoDTEP.
The
declaration is a big relief for the entire Export Industry, which includes MEIS
worth Rs 330 billion, RoSCTL and RoSL worth Rs 55 billion and other schemes
aggregating Rs 50 billion. An amount of Rs 125 billion for RoDTEP and Rs 70
billion for RoSCTL has been sanctioned this year, which is over that of Rs 560
billion.
The
declaration of release of Rs 560 billion under various tax refund schemes is a
result of Modi Government’s continuous efforts and various measures to promote
Indian Textile Exports by extending World Trade Organization (WTO) compliant
RoSCTL scheme for three years, announcement of RoDTEP rates and also launch of
PLI Scheme benefiting Man Made Fibre (MMF) and technical textiles.
A
positive characteristic of the Textile sector is that, it comprises a maximum
number of Small, Organized and Unorganised Units and MSMEs, which employ more
than 45-50 million people, working on least investment and maximum employment model.
As
the textile sector would have a big chunk of benefits from all the funds, the
positive effect will be visible during forthcoming Christmas season as the
Exporters will be in a capacity to fulfil their existing orders and fetch new
orders from International Markets.
HEWA office bearers are thankful to PM Narendra Modi, Union Minister
for Finance Nirmala Sitaraman, Minister for Textile & Commerce Piyush
Goyal, former Minister for Commerce Suresh P Prabhu and former Minister for
Textile Smriti Zubin Irani. Suresh P Prabhu and Smriti Zubin Irani had
meetings with HEWA delegates and listened to various issues raised before them.
Source: mid-day
Image Source: Google Images
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