Dipali Goenka, CEO & Joint Managing Director, Welspun India says, the government’s decision to extend the RoSCTL scheme till March 2024 will help the company to increase competitiveness with Bangladesh and Vietnam.
As per a CNBC TV 18 report, the company aims to make more investments in the textile category besides increasing FDI and generating more employment opportunities. Goenka adds, the PLI scheme focuses more on man-made fibres sector. However, Rebate of State and Central Levies and Taxes (RoSCTL) extension will provide a massive boost to the cotton segment.
On July 14, 2021 the Indian government approved the continuation of Rebate of State and Central taxes and Levies (RoSCTL) on exports of apparel, garments, and made-ups till March 31, 2024.
The RoSCTL scheme will continue with the same rates as notified by the Ministry of Textiles vide Notification on March 8, 2019, in exclusion from the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for these chapters.
