The Union
Minister for Textile & Commerce, Piyush Goel and Union Minister for
Information & Broadcasting, Anurag Thakur declared during a press briefing
recently that Government of India has approved disbursal of a hefty amount of
Rs 56,000 crore arrear to the exporters under various schemes such as MEIS,
RoSL, RoSCTL and RoDTEP.
The declaration
is a very big relief for the entire Export Industry, which includes MEIS worth
Rs 33,000 crore, RoSCTL and RoSL worth Rs 5,500 crore and few other schemes
aggregating Rs 5,000 crore. An amount of Rs 12,500 crore for RoDTEP and Rs
7,000 crore for RoSCTL has been sanctioned this year, which is over and above
that of Rs 56,000 crore.
As liquidity will
be made available to our exporters under various Govt Schemes, a transformation
impact on exporters' cash flow will be visible in the days to come thereby
making India a Global leader in textile sector by achieving the target of 100
Billion Dollar exports from present approx 30 Billion Dollar and hence move
towards the cherished goal of Aatmanirbhar Bharat mission of Prime Minister,
Narendra Modi.
The declaration
of release of Rs 56,000 crore under various tax refund schemes is a result of
Modi Government's continuous efforts and various measures to promote Indian
Textile Exports by extending World Trade Organization (WTO) compliant RoSCTL
scheme for three years, announcement of RoDTEP rates and also launch of PLI
Scheme benefiting Man Made Fibre (MMF) and technical textiles.
Vikas Singh
Chauhan, Director, HEWA, said, “We wish to thank the Indian Government under
the able leadership of PM Narendra Modi, Union Minister for Finance Nirmala
Sitaraman, Minister for Textile & Commerce Piyush Goyal and former Minister
for Commerce Suresh P Prabhu and former Minister for Textile Smriti Zubin
Irani.”
All together
among many positive decisions of Modi Government, the three decisions mentioned
in para supra along with proposed Free Trade Agreement (FTA) in major
international markets will give a giant leap in Investment, while the exporters
will fetch new orders which in turn will generate more than 10 million new
employment opportunities in Textile sector alone.
A positive
characteristic of the Textile sector is that it comprises a maximum number of
Small, Organized and Unorganized Units and MSMEs, which employ more than 45-50
million people, working on least investment and maximum employment model.
As the Textile
sector is going to have a big chunk of benefits from all these fund release
under various schemes the positive effect of this will be visible during
forthcoming Christmas season as the Exporters will be in a capacity to work out
whole heartedly in fulfilling their existing order and will also dare to fetch
new orders from International Markets.
It was further
stated that the HEWA office bearers are also thankful to former Minister for
Commerce Suresh P Prabhu and former Minister for Textile Smriti Zubin Irani for
sparing their precious time and having meetings with HEWA delegates and keenly
listening to various issues raised before them.
..
Photo (From left): Vardhman Jain, Vikas Singh Chauhan, Alok Jain and Anant Srivastava
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