Texprocil hails govt sops to boost cotton fabrics export

The Cotton Textiles Exports Promotion Council (Texprocil) today welcomed the inclusion of exports of cotton fabrics, and made-ups to leading markets, including African countries, under the Merchandise Exports from India Scheme (MEIS), which is expected to boost exports.
The Director General of Foreign Trade (DGFT) issued notice recently for inclusion of exports of cotton fabrics -- both woven and knitted -- and Made-ups to leading markets, including African countries, under the MEIS.
"This is a very positive step taken by the government and has come as a huge relief to the exporters of cotton textiles who are faced with declining exports," Texprocil Chairman R K Dalmia said in a statement.

Exports of value added and labour intensive products like cotton dyed and printed fabrics and made-ups to different African countries like Mauritania, Mali, Dar Es Salaam, Burkina Faso, Guinea Bissaou, Niger, Benin, Angola, Senegal, Togo, Ghana, Kenya and Tanzania will receive a huge boost, he added.
The inclusion of various categories of knitted fabrics under the MEIS will also encourage exports of knitted fabrics including knitted fabrics with lycra, Dalmia said.
Exports of cotton fabrics would get a further fillip of 10 to 15 per cent and India would also link up with the global value chains by offering products at competitive prices.

If these measures are also followed up by the much awaited announcement of the Interest Rate Subvention Scheme and an increase in the drawback rates, exporters will be able to overcome the difficulties which they are currently passing through due to slowdown in the world market, the Texprocil Chairman said.
Dalmia expressed confidence that exports of cotton fabrics and made-ups will increase because of inclusion of these items in the MEIS.