Coimbatore: The Southern India Mills Association (Sima) and Council Export Export Clothing (AEPC) has thanked the Center to expand the tax rebates and the Center and Retribution (ROSCTL) on the export of clothing and clothing for three years.
The textile that struggles the industry, which has seen exports stagnates over the past four years, has now begun to see good marketing opportunities for post-covid and this step will make competitive Indian clothing prices in the global market, said the association.
Union cabinet, chaired by Prime.
Minister Narendra Modi, recently approved ROSCTL with the same level in clothing and clothing exports until March 31, 2024.
The tree is critical reduces the price of Indian products in the global market, because producers do not need to add state costs and tax centers on it , Chairman of Sima Ashwin Chandran said that the industry could not hold on to their previous commitment and order in full without the benefits of rebates for past pairs of months.
“This announcement has now given the trust of textile and garment exporters and provides a field of playing levels to help them increase exports and create new jobs for several lakh people,” he said.
The Chairperson of AEPC Sakthive said the scheme would run far to bring back positive sentiment and help the Indian textile value chain reach an annual $ 100 billion in the next three years.
“This scheme will help produce lakh new jobs, especially for vulnerable parts including semi-skilled, rural youth, migrants and women in the MSME segment.
This will also help in achieving the objectives imagined from Aatmanirbhar Bharat.
The ROSCTL scheme will make the textile industry and Indian clothing is more competitive in the global market, “he added.
Sima also welcomes the cabinet committee’s decision to cover all the remaining textile products in the value chain in the forgiveness of tasks and tax exports (Rodtep) schemes, further increase global competitiveness of threads and fabrics.