Excelsior Correspondent
Srinagar, July 16: The Government of India have acceded to the request of Kashmir Chambers of Commerce and Industry (KCCI) of allowing the incentive to export of shawls to all the countries at the rate of 3% instead of 2 %, the trade body said today.
The KCCI (Inc) had in its pursuit to get the additions made in the Foreign Trade Policy 2015-2020 with regard to extension of incentives allowed under Merchandise Export India Scheme (MEIS) to shawls exported to all the countries in group A,B, and C of the policy at a higher rate of 3% which was earlier reduced to 2% and allowed for the countries falling only under group A of the policy whereby no incentives was allowed on export of shawls to the Middle East countries which are the largest buyer for our shawls,
“Immediately on announcement of Foreign Trade Policy, The Kashmir Chamber of Commerce & Industry pointed out the non inclusion of shawls for the above said incentives for middle East countries to the Ministry of Commerce and the Director General Foreign Trade and also sought the help from the State Government to have the issue resolved for the sake of growth of shawl Industry in the State,” the KCCI said, adding that a delegation headed by its president Sheikh Ashiq Ahmad and accompanied by former president A M Matto called on the Director General foreign Trade and other authorities of Ministry of Commerce pleading for the increase in the rate of incentive and its allowance for all the countries world over as included in Group A, B and C of the said Foreign Trade Policy.
The Kashmir Chamber of Commerce & Industry have thanked the Government of India for having acceded to the request. “KCCI feel it to be an Eid gift for the artisans and shawl exporters of the State,” the trade body said.
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