Texprocil hails 7 point strategy to boost exports

Anand Sharma, Minister for Commerce, Industry & Textiles,

yesterday announced the annual supplement 2012-13 to Foreign Trade Policy (2009-2014). The policy is aimed at sustaining export growth momentum amid global uncertainties. Amit Ruparelia, Chairman Texprocil, welcoming the FTP announcement said, “The policy with its seven-point strategy will help boost exports and would provide a new fillip to textiles sector”.

The announcements made by the government include extension of interest subsidy scheme by one year till March 31, 2013 for a select few product group. The policy has enhanced the scope of Zero Duty EPCG Scheme and also delinked the Scheme with Technology Up-gradation Scheme (TUFS) for fast track moderisation in the textile sector.

Further, Ruparelia said, enlargement of Focus Product Scheme (FPS) / Focus Market Scheme (FMS) by including more number of products and markets will help exporters to focus on value added products and also explore opportunities in new markets.

The Government has also liberalized all scrips to source from domestic market to encourage manufacturing in domestic sector. This measure is an important measure for import substitution thereby generating more employment.

Amit Ruparelia has also appealed to the government to extend the 2% interest subvention scheme to all the other labour intensive segments of textiles and clothing sectors like home textiles, knitted fabrics, and woven fabrics etc, that have also been significantly contributing to the country’s foreign exchange earnings and has been actively generating employment.

He welcomed declaration of Ahmadabad and Kolhapur as the Towns of Export Excellence (TEE) and expressed his confidence that India would register a growth rate of 25 per cent Year on Year from the present level of 15%, If Policy measures are extended to the entire Textile value chain