COIMBATORE, Apr 19: The Southern India Mills’ Association (SIMA) and Tirupur Exporters Association (TEA) have hailed the Annual Supplement to Foreign Trade Policy (FTP) 2009-14 announced for the year 2013-14 by the Union Government yesterday.
In a press release here today, SIMA Chairman S Dhinakaran thanked Union Minister for Commerce, Industry and Textiles Anand Sharma for giving due weightage to the mother industry.
He said the extension of two per cent interest subvention credit up to March 31, 2014, and inclusion of made-ups for the benefit would greatly help the Indian textiles and clothing industry to remain competitive in the global market.
He said the inclusion of some more textile products under the Focus Product Scheme, Market Linked Focus Product Scheme and also the extension of Incremental Export Incentivization Scheme up to March 2014 would enable the textiles and clothing industry in the country to improve its export performance continuously.
TEA President A Sakthivel said packing materials, embellishments, embroidery, sewing threads, poly/quilted bedding materials in the duty free import list up to a value of one per cent of the FOB value for the made ups which would improve its competitiveness and encourage value addition and targeted selling the products to international bands.
He also welcomed the reduction of export obligation under EPCG scheme from eight times to six times. (UNI)
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