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India mulls extending RoSCTL
India is mulling over extending the Rebate of State and Central Taxes and Levies (RoSCTL) for the garments and made-ups sector to other textile products because of the urgency to do away with the merchandise export incentive scheme (MEIS), which is against World
SIMA hails made-ups export package
The Union Cabinet Chaired by the Prime Minister approved certain reforms to boost employment generation and exports in the made-ups sector that has been facing challenges in the international market due to high costs of production, non-refund of State levies, high tariff barrier when compared to the competing nations such as Pakistan, Vietnam, etc.
Gujarat marches ahead
Gujarat has performed remarkably well, achieving an 18 per cent growth over the past decade since 2004, through policy support from both the Centre and State government. Unlike several other states, entrepreneurs in Gujarat have the option of availing benefits from both the Centre and the State Government, allowing for additional benefits. The Centre’s Technology Upgradation Fund Scheme (TUFS), along with the state government’s policy, has helped entrepreneurs reap huge benefits in the sector.
Gujarat marches ahead in textiles
Gujarat has performed remarkably well, achieving an 18 per cent growth over the past decade since 2004, through policy support from both the Centre and State government.
Textile package to be implemented in 3 months
The fiscal incentives in the package, which is expected to cost the ex-chequer an estimated Rs 6,000 crore, include enhanced duty drawback coverage with refund of State levies not being compensated so far, additional funding under the Technology Upgradation Fund Scheme (TUFS) and enhanced scope of income tax exemption under Section 80JJAA of the Income Tax Act.
New textile policy very soon
The long awaited new textile policy, which aims to create 35 million new jobs and boost exports to over $300 billion annually over the next decade, is likely to be unveiled, may be within the next two months, according to Santosh Gangwar, Minister of State for Textiles.
We are more focused on high-value fabrics
Incorporated in 1993 by Naresh Bhandari, Bhandari Hosiery Exports Limited (BHEL) is a garment manufacturing company having vertical production facility to produce high-fashion knitted garments.
Sops for textile machinery
The Government of India has reduced the Central Excise Duty by 2 per cent on textile machinery besides increasing the allocation under the Technology Upgradation Fund Scheme (TUFS)