News Tags

Related Keywords: bill of entry, costly affair, denial of permission for third party exports, ensure facility be made available, export performance, for duty free import of machinery, need for upgrading, representation to Union Ministry of Commerce, setup over, Texpreneurs Forum, textile entrepreneurs, under EPCG scheme

Textile entrepreneurs are setup over the denial of permission for ‘third party exports’ for satisfying the export obligations under Export Promotion Capital Goods (EPCG) Scheme in various cases. In this concern, Texpreneurs Forum has made a representation to the Union Ministry of Commerce to ensure that the facility be made available to all for duty-free import of machinery considering the need for upgrading machinery which were costly affair.

Just because some violations occurred it is not wise to impose any denial or temporary ban on the incentives itself.

Related Keywords: age old proviso, compelling textile mills, deterrent to growth, economic viability, either scrap or reduce limit, Hank yarn obligation, powerloom, produce mininum hank yarn, Texpreneuers Forum, textile entrepreneurs, Tirupur and its hinterland, TUF scheme

Hank yarn obligation is an age old proviso compelling the textile mills from Tirupur and its hinterland to produce a minimum of 40 per cent of the yarn as hank yarn that deterrent to growth and threat to their economic viability. The textile entrepreneurs want the obligation rule either be scrapped or reduce the obligation limit to 10 percent.