Loading…

+917718880355

news

Union Minister to release plan to revitalize textile industry soon

YarnsandFibers News Bureau 2016-01-25 13:00:00 – Tirupur

Union Minister of State for Textiles Santosh Kumar Gangwar during his meeting with exporters organized by Tirupur Exporters Association (TEA) on Saturday said that for revitalizing the Indian textile industry, the Vision, Strategy and Action Plan would be released before the Union Budget.

Their primary focus is to have good uniform frameworks/guidelines implemented for every segment in the production chain of the textile industry across the country,.

Mr. Gangwar assured exporters that their pending request for certain amendments regarding overtime wages in garment factories speedy execution of Free Trade Agreement (FTA) with European Union, would be looked into.

TEA president A. Sakthivel pointed out the need for introducing duty drawback for those apparels that were made from fabrics imported under the ‘Advance License Scheme’. Presently, duty drawback is not given for such apparels, as fabrics are imported without any duty levied under the said scheme.

He explained that fabric cost comes only to around 40 percent of the apparel cost, with the remaining cost incurred by the use of materials that attract duty. Hence, the request is to give duty drawback for the 60 percent of the cost during the export of the apparels.

During the day, Mr. Gangwar visited the Common Effluent Treatment Plant a Arulpuram and also inaugurated a skill development centre at NIFT-TEA Knitwear Institute and the re-designed web site of Tirupur Exporters Association.

0 0 vote
Article Rating
0 Comments
Inline Feedbacks
View all comments

Market Intelligence

Ask for free sample Report


why us?
21 yrs

experience

Fortune 500

Customer Base

100%

dedicated team

55+

Countries Served Worldwide


newsletter

Register below to receive our newsletters with latest industry trends and news!

WeCreativez WhatsApp Support
Our support team is here to answer your questions via WhatsApp. Ask us anything!
? Hello