 "Cotton fabrics exports to rise 10-15% this year on MEIS extension")
The inclusion of African countries under the Merchandise Exports from India Scheme (MEIS) is likely to boost India’s cotton fabrics exports by 10-15 per cent in the current financial year.
In the latest notification issued on October 29, the Directorate General of Foreign Trade (DGFT) included African countries under MEIS for exports of cotton fabrics (woven and knitted) and made-ups. African countries included in MEIS list are Mauritania, Mali, Dar-Es-Salaam, Burkina Faso, Guinea-Bissau, Niger, Benin, Angola, Senegal, Togo, Ghana, Kenya and Tanzania. These countries offer a huge potential for exports of cotton fabrics from India, bringing the price competitive to other countries including Bangladesh, Pakistan and China.
“This is a positive step taken by the government and has come as a huge relief to the exporters of cotton textiles,” said R K Dalmia, chairman, The Cotton Textiles Export Promotion Council.
Exports of value-added and labour-intensive products such as cotton dyed and printed fabrics and made-ups to African countries will receive a huge boost. “Exports of cotton fabrics would get a further fillip of 10-15 per cent and India would also link up with the global value chains by offering products at competitive prices,” said Dalmia.
Cotton textiles exports declined 2.16 per cent to $4.24 billion between April and August 2015, compared to the same period last year. The government’s target of $13.67 billion for cotton textiles exports for 2015-16 looks ambitious.
In the latest notification issued on October 29, the Directorate General of Foreign Trade (DGFT) included African countries under MEIS for exports of cotton fabrics (woven and knitted) and made-ups. African countries included in MEIS list are Mauritania, Mali, Dar-Es-Salaam, Burkina Faso, Guinea-Bissau, Niger, Benin, Angola, Senegal, Togo, Ghana, Kenya and Tanzania. These countries offer a huge potential for exports of cotton fabrics from India, bringing the price competitive to other countries including Bangladesh, Pakistan and China.
“This is a positive step taken by the government and has come as a huge relief to the exporters of cotton textiles,” said R K Dalmia, chairman, The Cotton Textiles Export Promotion Council.
Exports of value-added and labour-intensive products such as cotton dyed and printed fabrics and made-ups to African countries will receive a huge boost. “Exports of cotton fabrics would get a further fillip of 10-15 per cent and India would also link up with the global value chains by offering products at competitive prices,” said Dalmia.
Cotton textiles exports declined 2.16 per cent to $4.24 billion between April and August 2015, compared to the same period last year. The government’s target of $13.67 billion for cotton textiles exports for 2015-16 looks ambitious.
