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Related Keywords: currently under stress, Denim manufacturers in India, DMA, enhance DBK rates, extending benefits under various schemes, Focus product, increase support, Indian denim fabric manufacturing industry, led by Denim Manufacturers Association, market, MEIS, ROSL, sunrise industry in the entire textile value chain of India, urged Central government

Indian denim fabric manufacturing industry a the sunrise industry in the entire textile value chain of India is currently under stress. To bring the industry out of this situation the Denim manufacturers in India, led by the New Delhi based Denim Manufacturers Association (DMA), have urged the Central government to immediately announce increased support in the form of some enhancement in present duty drawback rates and extending some more benefits under various schemes such as ROSL, MEIS, Focus Product, Focus Market, etc which will enable them to tap the potential of export market.

Related Keywords: benefit for cotton yarns, Cotton Textiles Export Promotion Council, five percent reduction in corporate income tax, FTA, medium and small enterprises, MEIS, merchant exporters, relating to interest subvention, Texprocil, textile sector, urged government to reinstate some incentives, welcoming the Budget, will benefit a large number of MSMEs

The Cotton Textiles Export Promotion Council (TEXPROCIL) welcoming the Budget urged the government to reinstate some of the incentives relating to interest subvention for merchant exporters and cotton yarn and MEIS benefit for cotton yarns.

Related Keywords: AEPC, authorization, change key operational mechanisms, duty exemption schemes, earn duty credits, export process, exported goods, Garment Exporters, inspection and classification norms, MEIS, proof to claim benefits, simplify new foreign trade policy, textiles ministry, withdraw need for landing certificate

The Apparel Export Promotion Council (AEPC) has urged the textiles ministry to simplify the new foreign trade policy’s authorization, inspection and classification norms. Among their requests is to withdraw the need for a landing certificate for exported goods, required as proof to claim benefits under the Merchandise Exports from India Scheme (MEIS). Introduced in April 2015, the scheme aims to boost sagging exports, covering tariff lines for 5,012 items that earn duty credits.

Related Keywords: Australia and Canada, biased import duties on Indian textiles, conclusion of FTAs with EU, decline in export of cotton textile, export target, gain market access, MEIS, negative growth registered, preferential access, remove trade barriers, Texprocil, urgent action from government, world market

The export target for 2015-2016 is USD 13.67 billion. The continuing decline in exports of cotton textiles is a matter of deep disappointment and concern requiring urgent action from the government, Cotton Textiles Export Promotion Council (Texprocil) chairman RK Dalmia said in a statement.

Exports of cotton textiles in August 2015 registered a negative growth of 7.39 percent as exports touched USD 863.18 million as against USD 932.02 million in August 2014. Texprocil sought government's support to boost exports

Related Keywords: Agriculture Infrastructure Incentive Scrip, focus market scheme, Focus Product Scheme, foreign trade policy, Indian textile industry, Market Linked Focus Product Scheme, MEIS, Merchandise Exports from India Scheme, textile exports, VKGUY

The NDA government’s new Foreign Trade Policy (FTP) 2015-20 was unveiled here on 1 April, focusing on supporting both the manufacturing and services sectors, with a special emphasis on improving the ‘ease of doing business’. The five-year FTP provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the “Make in India” vision of Prime Minister Narendra Modi.