Wait...

Online Export Import Data Search

Complete Training Video : Click Here

Time ripe to boost exports in apparel, footwear: Eco Survey.


Date: 12-08-2017
Subject: Time ripe to boost exports in apparel, footwear: Eco Survey
New Delhi- As China loses share in global market for exports of apparel, leather and footwear due to rising production costs, time is ripe for India to step in and expand in the sectors, according to the Economic Survey.

However, India will have to address myriad issues including appropriate tax structure, labour regulations and high logistics cost in order to cash in on the opportunity, said the mid-year Survey tabled in Parliament today.

"In the perspective of China losing share in the global market for exports in the apparel sector on account of rising costs of production, the time is ripe for India to make forays into this market," it said.

Just like the clothing sector, the Survey said the leather and footwear sector is a highly employment intensive sector with lower capital requirements.

"With China ceding space, it is a favourable time to promote the footwear industry," it said.

The Survey, however, referred to various challenges before India can reap the benefits of this situation.

India's competitors, like Bangladesh and Vietnam, have duty free access to markets of the US, the EU and Japan for their exports, it said.

"Other challenges include high domestic taxes on man- made fabrics vis-a-vis cotton based fabrics; stringent labour regulations and high logistics cost," the Survey added.

Similarly, on footwear, it said global demand is moving towards non-leather while Indian tax policies favour production of leather-based items.

"India faces high tariffs in partner country markets in exports of leather goods and non-leather footwear," it said.

The Survey expressed optimism that with the government announcing a special package for the leather sector in the Budget of 2016-17, benefits of it would be visible in due course.

"Implementation of GST is expected to rationalise discrimination against non-leather footwear," it said.

Likewise, for the apparel sector, the Survey said the Rs 6,000 crore special package for textile and apparel sector approved on June 22, 2016 will boost employment creation, exports and investment.

Besides, increasing of subsidy under the Amended Technology Upgradation Fund Scheme (ATUFS) from 15 per cent to 25 per cent for the garment sector will also help the sector, it said.

Source: retail.economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-07-2018
Circular No. 22 /2018-Customs
Refund of IGST on export of goods on payment of duty-Clarification in case of SB003 errors and extension of date in SB005 & other cases using officer Interface for rectification of errors-reg.

Date: 18-07-2018
Circular 21/2018-Customs
Refund of IGST on export of Goods on payment of duty-Setting up of Help Desks -reg.

Date: 16-07-2018
Notification No.53/2018-Custom
Seeks to amend BCD rates on certain textile goods.

Date: 16-07-2018
Notification No. 52/2018-Customs
Seeks to further amend Notifications No. 50/2017-Customs dated 30.06.2017 to expand list of exempt items for Handicraft Sector

Date: 14-07-2018
Public Notice No. 22/2015-2020
Merchandise Exports from India Scheme (MEIS) benefit for `Bengal-gram` under ITC(HS) Code 07132020 upto 20.09.2018.

Date: 14-07-2018
Public Notice No. 23/2015-2020
Amendments in the Appendix 3B of the Merchandise Exports from India Scheme (MEIS).

Date: 14-07-2018
Notification No. 62/2018-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Date: 13-07-2018
Notification No.37/2018-Customs (ADD)
seeks to rescind notification No. 36/2012- Customs (ADD) dated the 16th, July 2012.

Date: 13-07-2018
Notification No. 36/2018-Customs (ADD)
seeks to impose anti-dumping duty on the imports of "Grinding Media Balls" (excluding Forged Grinding Media Balls) originating in or exported from China PR and Thailand.

Date: 13-07-2018
DGFT Policy Circular No. 10/2015-20
Accountability of inputs where Advance Authorizations are issued om net to basis for parts/components - reg.



Exim Guru Copyright © 1999-2018 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001