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Texprocil celebrates the achievement of its member exporters

"The Cotton Textiles Export Promotion Council (TEXPROCIL) celebrated the achievement of its member exporters at theirannual awards presentationrecently. The Minister of Textiles and Information & Broadcasting, Smriti Irani, in a video message to the industry, complimented the award winners to keep up the good work in the sector. Thee Textiles Commissioner, Dr.Kavita Gupta was the Chief Guest at the function."

 

 

TEXPROCIL

 

The Cotton Textiles Export Promotion Council (TEXPROCIL) celebrated the achievement of its member exporters at theirannual awards presentationrecently. The Minister of Textiles and Information & Broadcasting, Smriti Irani, in a video message to the industry, complimented the award winners to keep up the good work in the sector. Thee Textiles Commissioner, Dr.Kavita Gupta was the Chief Guest at the function.

TEXPROCIL CELEBRATES

 

Ujwal Lahoti, Chairman, Texprocil congratulated all the award winners for facing the challenges of a slow global demand and intense price pressures to emerge leaders in their respective line of businesses during 2016-17.

The Chairman complimented Smriti Irani for her untiring efforts in conducting extensive consultations with all the stakeholders from time to time to understand the issues faced by the textiles industry.

He said that she was instrumental in the inclusion of made ups under the ROSL scheme which was originally introduced to cover only readymade garments and also thanked her for keeping the entire cotton textiles sector at the GST rate of 5 per cent and for reducing the GST rate on job work in the textile sector to 5per cent.

Lahoti mentioned that the Government recently increased the ROSL rate for cotton made ups from 1.55per cent to 2.20per cent and also the entitlement of the duty credit scrips on export of made ups from 2per cent to 4per cent under the MEIS. These measures will enable made ups exporters to partially overcome the disadvantage which they are facing in leading markets like the EU and the US versus products from some of the competing nations which enjoy zero duty access,

However he added that delays in GST refunds are leading to serious working capital and financial problems for many of the textiles units in addition to the procedural and compliance issues.

Lahoti stated that cotton yarn was one single product for which there were no benefits under the FTP 2015-20. He urged the government to include cotton yarn under the MEIS and 3per cent Interest Equalization Scheme.

Dr Kavita Gupta, amongst other points, stressed the fact that the industry should focus on technical textiles as it still remained a vastly unexplored segment in the textile sector. She added that the government’s support through various schemes like the recent increase in MEIS should spur the industry to spiral towards healthy growth.

The coveted highest global exports platinum trophy was presented to Welspun Global Brands Ltd. Other recipients of the Awards included Vardhman Textiles, Trident Ltd., Alok Industries, Arvind Ltd, Loyal Textiles, Premier Mills, Lahoti Overseas among others.

 
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