The textile industry expects exports to increase with the government extending refund of State and Central taxes on shipments of apparels and made-up goods.
The Cabinet approved the scheme to offer rebate on both the State and Central embedded taxes for the apparel and made-up goods such as towels, bed-sheets, blankets and curtains.
KV Srinivasan, Chairman, Cotton Textiles Export Promotion Council, said rebate will improve the competitiveness of made-up products in the export markets.
Compared to competing countries, export of made-ups, especially home textiles from India, was facing huge challenges due to high import duty. The scheme will go a long way in helping exporters in overcoming this disadvantage and increase exports, he added.
The Cabinet approved the scheme to offer rebate on both the State and Central embedded taxes for the apparel and made-up goods such as towels, bed-sheets, blankets and curtains.
KV Srinivasan, Chairman, Cotton Textiles Export Promotion Council, said rebate will improve the competitiveness of made-up products in the export markets.
Compared to competing countries, export of made-ups, especially home textiles from India, was facing huge challenges due to high import duty. The scheme will go a long way in helping exporters in overcoming this disadvantage and increase exports, he added.