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Clear ROSCTL pending claims as soon as possible! Exporters in India are urging the government to take action

6th September 2021, Mumbai:

Indian exporters have urged the government to expedite the resolution of pending Rebate of State and Central Taxes and Levies (ROSCTL) claims, citing India's apparel (woven + knitwear) exports of Rs. 75,250 crore from January 1 to August 31, 2021, and the RoSCTL pending claim to the apparel sector of Rs. 3,750 crore.

Raja M. Shanmugham, President of the Tirupur Exporters' Association (TEA), appealed to M. Ajit Kumar, Chairman of the Central Board of Indirect Taxes and Customs (CBIC), for assistance in obtaining RoSCTL benefits, which had been waiting since January 1, 2021.

Despite the fact that the government has announced the continuance of RoSCTL on clothing and made-up exports at the same rates until August 13, 2021, Raja alleges that the RoSCTL outstanding claims have not been resolved till now.

He pointed out that the Tirupur export industry, which accounts for 95% of MSME units, has been hit hard by the second wave of the epidemic and is failing to satisfy its statutory financial obligations month after month.

“I am confident that the ongoing problem will be resolved soon, since the Central Government is now focusing more on export development and attaining the US $ 400 billion objective for the current fiscal year,” Raja added.

Rebate of State and Central Taxes and levies (RoSCTL)

 

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Clear ROSCTL pending claims as soon as possible! Exporters in India are urging the government to take action

MP (India) has a lot of room to expand in the Textile industry: Shivraj Singh,CM (M.P.)

04 September 2021, Mumbai:

Shivraj Singh Chouhan, the Chief Minister of Madhya Pradesh (MP), has stated that the textile sector in the state has great potential for growth, and that efforts are being made to make the state a textile centre. He stated that the state will give a significant number of people with job possibilities.

The CM stated that the government will offer full assistance to investors and industry.

He was speaking with Sudhir Kumar Agrawal, the Chairman of the Sagar Group, who had met with the Chief Minister to explore investment opportunities in the state. The Group had previously promised a large investment in the textile sector, stating that it will invest about Rs. 1,000 crore and generate over 4,000 employment. Best Corporation, Tirupur, has lately invested in the state.

Aside from that, a few more firms have plans to invest in the state.

The state's connectivity is also increasing, with the CM announcing the virtual start of an international flight from Indore to Dubai, as well as airline services from Gwalior to Delhi and Indore. Indore is one of the most important clothing manufacturing centres in India, with exports to Dubai and other Middle Eastern nations.

Indore's clothing exports would grow as a result of the newly launched direct flight from Indore to Dubai. On Wednesdays, Air India will operate flights between Indore and Dubai once a week. IndiGo will operate daily flights from Gwalior to Delhi and Indore. At a cost of Rs. 500 crore, a new airport would be built in Gwalior.

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MP (India) has a lot of room to expand in the Textile industry: Shivraj Singh,CM (M.P.)

Meesho announces new staff wellness programs

03 September 2021, Mumbai:

A platform for online sales Meesho has launched a number of employee wellness initiatives, including a 10-day company-wide break and a ‘Reset & Recharge' policy, to prioritize staff well-being at the firm.

Employees at Meesho have been told to totally disconnect from their job from November 4 to 14 in order to care for their health and general well-being, according to ET Bureau. The decision is in reaction to the pandemic's consequences and a pledge by the firm to prioritize mental wellness in its staff.

According to TNN, the firm stated, "The epidemic emphasized the need to go back to the basics, be understanding and compassionate to one other." “This is also true for businesses. Meesho's main priority has always been its employees and their families' well-being.” The new policy, according to the company, is intended to start a larger dialogue about the need for mental health assistance in the Indian workplace. 

Meesho sells apparel, jewelry, and accessories from a variety of companies in men's, women's, and children's sizes. During the epidemic, the Bengaluru-based company created a grocery section to meet consumer demands while adhering to lockdown rules. In April of this year, the company reported that it had secured $300 million (Rs 2,191 crore) in a fresh round of investment spearheaded by SoftBank Vision Fund, giving it a $2.1 billion value.

5 Easy Wellness Initiatives for Any Company

 

 

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Meesho announces new staff wellness programs

In the first half of this year, Bangladesh emerges as the favored destination for Indian garment consumers

1st Sep 2021, Mumbai:

In the first half of this year, India's garment imports climbed by 11.29 percent to the US $ 421.16 million, according to the Ministry of Commerce and Industry.

The drop-in woven textile imports have persisted, with imports valued at US $ 220.62 million in the first six months of 2021, down 11.94 percent.

Knitted clothes, on the other hand, saw a remarkable gain of 56.81 percent on a year-over-year basis in H1 '21, reaching a value of US $ 200.54 million. According to Apparel Resources' analysis, China's apparel exports to India took a hit, with the latter importing the US $ 92.86 million worth of garments from the former, down 36.55 percent on a year-over-year basis.

Bangladesh remained the favorite importing destination for Indian customers, with the US $ 172.66 million worth of clothes imported from the neighboring country in the first half of this year, representing a 55.84 percent year-on-year increase. It's worth mentioning that China's garment shipping to India in H1 '20 was US $ 146.25 million, while Bangladesh's was the only US $ 110.79 million. The situation has changed dramatically in 2021, and Bangladeshi suppliers may continue to be optimistic in H2 '21 as well.

India may 'restrict' clothing imports from BD: HBL

 

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In the first half of this year, Bangladesh emerges as the favored destination for Indian garment consumers

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