05 April 2022, Mumbai:
SIMA lauds PM for scripting history in exports and signing of India-Australia ECTA.
The various unique COVID pandemic relief / safety measures and policy interventions have enabled India to become the fastest growing economy even during the pandemic lockdown period and accelerate it further in the post-COVID period.
They have enabled India to achieve US $ 418 billion merchandise trade for the year 2021-22 surpassing the target of US $ 400 billion, 9 days ahead of the schedule.
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India could record the highest ever monthly merchandise export of US$ 40.38 billion and exports over US$ 30 billion for 12 consecutive months in FY 2021-22.
In a Press Release issued here today, Mr.Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA), has lauded the NDA Government led by the Hon’ble Prime Minister, Shri.Narendra Modi for constantly creating history and breaking the record on policy fronts and thereby enabling India to become the largest and fastest-growing economy in the world.
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He has appreciated the strenuous efforts taken by the Government especially the Hon’ble Minister of Textiles, Shri.Piyush Goyal for giving major thrust to boost the textiles & clothing sector and enhancing its exports.
He has said that certain pathbreaking policy initiatives such as GST, RoSCTL, RoDTEP, removal of anti-dumping duty on PTA, MEG, PSF, VSF, Acrylic Fibre, etc., have enabled the industry to achieve US $ 39.73 billion in exports (estimated) during 2021-22, 18% higher than the exports recorded in the previous year, accounting around 10% of the total merchandise exports.
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