16th August 2021, Mumbai:
14th Aug. was a defining day when much awaited 'RoSCTL' gets extension till 31 March 2024, having been earlier approved by the Union Cabinet on July 14, 2021 to try & sustainably make Indian textiles internationally competitive.
Here it pertinent to put it in perspective that it is a welcome step by the Union government towards its earnest to achieve the dream-vision of $400 billion merchandise exports in FY'22.
A. Sakthivel, chairman of the Apparel Export Promotion Council (AEPC) and president of Federation of Indian Export Organisations (FIEO), alluded the extension of the Rebate of State and Central Taxes and Levies on export of garments and made-ups with effect from January 1, 2021 it is a great measure at the right time when Indian exports is started to have picked up the steam & momentum.
WATCH: https://www.youtube.com/watch?v=T7Rx5AKJ56Q
What it means for the industry
The scheme promises to ensure addressing the long standing demand of the industry/ The need of the day in terms of 'Refund of embedded taxes, cesses and duties'.
It would help boost by giving an impetus to exports of Textiles and Apparels (T&C), poised to attract additional investment and thus providing direct and indirect jobs to lakhs of people in world's 2nd most populous nation, more importantly to women.
Dr. A Sakthivel, President of FIEO
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