Related Keywords: attained export competitiveness, Directorate general of Foreign Trade, export subsidies, FIEO, foreign trade policy, Indian textile sector, phase out, textile share in world trade, WTO, WTO norms
As India attained export competitiveness in the textile sector in 2008-09 and as per the threshold set by the World Trade Organization (WTO), it has to phase out the export subsidies provided to the sector by 2018.
The Directorate General of Foreign Trade (DGFT) department has prepared made a case in writing to the department of revenue asking it to not provide incentive to the textile sector in upcoming foreign trade policy (FTP) which is likely to be announced next month, as India has reached the export competitiveness in the sector.
