SME Times News Bureau | 14 Apr, 2022
Thanking
the Finance and Textile Ministers for reducing the customs duty on raw
cotton from 10% to Zero, FIEO President A Sakthivel, said that it
will push exports of apparel and made-ups sectors significantly by
softening the prices of yarn and fabrics as well.
The FIEO
Chief said that cotton textile exports will get further boost as the
high prices of cotton were blunting the competitive edge.
He added that
India has increased its market share in apparel exports in the US and
many countries recently and the signing of CEPA with UAE and Australia
will further accelerate it. Similar arrangements are being worked out
with the UK, Canada, EU, GCC and SACU.
Sakthivel said that the Government has provided all support to the
textile sector and we should endeavour to reach US$ 100 Bn of textile
exports by 2030.
Reacting to the
March 2022 Trade Data, Sakthivel said that the
highest-ever exports of over USD 42 billion during the month has once
again showcased the continuous resilience of India's exports sector.
The
hard work and the outstanding performance shown by the Exim community
has not only given a boost to the sector, but has also helped the
economy’s growth recovery process in a big way, with a hope to further
give a boost to the economy in the coming days.
With monthly exports
crossing well over the USD 30 billion mark all throughout the fiscal,
yet another remarkable milestone has been achieved not only crossing the
USD 400 billion mark but also almost touching a phenomenal figure of
USD 420 for the fiscal adding about USD 130 billion in goods exports
compared to previous fiscal, he said.
Praising the excellent effort and hard work of the exporters, Sakthivel thanked the Prime Minister, whose vision and belief on
the exporting community and his clarion call to the exporters further
enthused them to come out with such an stupendous performance.
Sakthivel also welcomed the steps taken by the government under the able
and dynamic leadership of the Prime Minister, Shri Narendra Modi and
also the Union Finance Minister and the Union Commerce & Industry
and Textiles Minister for showing confidence and trust on the exporters
during these challenging times.
Exports are now set to transform the Indian economy. What is more
important is to build on it as we will have benefits of new FTAs/CEPAs
and the PLI Scheme backing us. We will build on such remarkable
achievements, exuded A Sakthivel.
The FIEO Chief is also of the view that though the government has
announced a slew of measures to support exports including the recent
announcement of the extension of the interest equalisation scheme,
extension of the FTP 2015-20 by another 6 months and extension of time
for filing of MEIS/RoSCTL/ROSL scrip, however to build on this
remarkable achievement and grow further during the new fiscal, there is a
need to increase the validity of scrips to 24 months and link
transferability with realisation, extend RoDTEP to EOUs, SEZ and Advance
Authorisation, expand usages of RoDTEP and RoSCTL scrips and logistics
support for the sector looking at the rising freight cost.
