Textile Secy, Retail News, ET Retail

Davida Erdahl

The extension of Rebate of State and Central Taxes and Levies (RoSCTL) scheme, and other initiatives like mega financial commitment textile parks will enable the attire sector raise domestic manufacturing and exports, Textiles Secretary Upendra Prasad Singh has explained. On Wednesday, the Union Cabinet chaired by Prime Minister Narendra Modi […]

The extension of Rebate of State and Central Taxes and Levies (RoSCTL) scheme, and other initiatives like mega financial commitment textile parks will enable the attire sector raise domestic manufacturing and exports, Textiles Secretary Upendra Prasad Singh has explained. On Wednesday, the Union Cabinet chaired by Prime Minister Narendra Modi gave its acceptance for continuation of RoSCTL scheme until March 31, 2024.

Singh explained the attire sector is important for the economy as it provides livelihood to a huge segment of inhabitants and has a main contribution in direction of exports and GDP.

His opinions arrived when interacting with executive committee members of Attire Export Promotion Council (AEPC) on Wednesday.

Singh also certain the members of addressing the troubles faced by the attire exporters in escalating their share in the world-wide attire trade.

“RoSCTL scheme, alongside with the proposed Output Linked Incentive scheme and Mega Financial commitment Textile Parks (MITRA), would enable attire makers see their exports registering a quantum jump,” AEPC explained quoting the secretary.

Singh also released a compendium on MMF (Man Created Fibre) clothes throughout the meeting.

AEPC Chairman A Sakthivel explained the Council has taken a range of initiatives to promote MMF clothes and make consciousness amid exporters about availability of chances for exports in the sector.

“Presently MMF clothes add all around USD a hundred sixty five billion in whole RMG (prepared built clothes) exports of USD 470 billion globally. India’s mill fibre usage ratio of cotton vs MMF is sixty:34. On the opposite, the world-wide mill fibre usage ratio of cotton vs MMF is thirty:70. It offers a big option for Indian attire makers to diversify in MMF clothes,” Sakthivel explained.

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