Centre taking steps to push textiles, apparel exports: Minister

Posted by Daily Shipping Times on 15-03-2018        Tweet

NEW DELHI: Minister of State for Textiles, Ajay Tamta, said that the Centre has taken several steps to improve textile and apparel exports.

In the Rajya Sabha Ajay Tamta said the Government has enhanced rates of Merchandise Exports from India Scheme (MEIS) from 2 per cent to 4 per cent for apparel and made-ups with effect from 1st November 2017.

He added that the Government has also revised post-GST rates of Rebate of State Levies (RoSL) Scheme implemented from 1st October 2017 and exempted IGST on import under Advance Authorization and Export Promotion Capital Goods Scheme.

The Minister further said that the Finance Ministry has been requested for allocation of appropriate funds under RoSL for one time settlement of exporters’ claim and faster and complete refund of Input Tax Credit.

In Reply to another question, the MoS Textiles said major issues raised by apparel industry include delay in Input Tax Credit (ITC) refunds, reduction in rates of Rebate for State Levies (RoSL) Scheme, appreciation of Indian Rupee, high Interest Rate and lack of Preferential Market Access as compared to competing nations.

He said, the Government has constituted a Committee on Exports under the Revenue Secretary of Ministry of Finance for evolving a suitable strategy for promoting exports post implementation of GST.