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Home textile exporters praise textile promotion schemes

Sep 24, 2021
Home textile exporters praise textile promotion schemes

Mumbai, Maharashtra

Home 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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