TEA Welcomes New FTP

TEA Welcomes New FTPPresident, Tirupur Exporters Association (TEA), A. Sakthivel lauded union commerce and Industry minister, Nirmala Sitharaman for announcement of rewards under MEIS at the new Foreign Trade Policy 2015-20 (FTP) for doing exports through E-commerce at FOB value of upto Rs 25,000 per consignment. This, he said, would be beneficial to garment exporting units as some of them have already exporting garment through this process.

In a statement, Sakthivel also hailed the support given in the policy to women centric product under MEIS and requested to reward two per cent Duty Credit Scrip to garment sector as it is providing employment mainly to women workers.

He hoped that the minister would extend MEIS reward to specific countries listed in group B & C also and announcement of readymade garment sector under three per cent Interest Subvention Scheme which would not only help increase exports but also provide more employment mainly to women workers.

Sakthivel said that he was thankful for recognizing the employment creation potential of textile sector and also giving the importance of the apparel sector particularly as a value creator and as an employment generator. FTP noted that India is positioned along the entire value chain of cotton and synthetic textile and garments. It needs to reorient itself in view of increasing global challenges and opportunities.

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