The textile industry is greatly disappointed with the provisions made for this labour-intensive sector in the Foreign Trade Policy. Though Commerce Minister Anand Sharma, in his speech, said that the policy is centred on sectors like textiles and clothing, the industry feels there is nothing in the policy for implementing such objectives.
The 2 per cent incentive to all exports to the US and the EU under the focus market scheme has also been withdrawn adding to the troubles of exporters. “The FTP is very disappointing for apparel exporters. Nothing significant has been done and an incentive of 2 per cent has been taken away,” said Rajendra Hinduja, managing director of Gokaldas Exports Ltd.
Technical textiles was the only significant beneficiary as 17 products will be incentivised under the focus product scheme.
Garments, made-ups and knitted fabrics have been incentivised under the Market-Linked Focus Product Scheme covering countries like Cambodia and Vietnam. These two countries being major exporters of garments do not import garments.
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The textile industry is greatly disappointed with the provisions made for this labour-intensive sector in the Foreign Trade Policy. Though Commerce Minister Anand Sharma, in his speech, said that the policy is centred on sectors like textiles and clothing, the industry feels there is nothing in the policy for implementing such objectives.
