New Delhi: The Confederation of Indian Textile Industry on Monday said the government should extend benefits of RoSCTL scheme, which presently covers apparel and made-up segments, to yarn and fabric as well to boost their export competitiveness. 

The Union Cabinet in March approved the scheme for rebate of all state and central embedded levies for apparel and made-up segments, which would make shipments zero-rated, thereby boosting India's competitiveness in export markets. 

CITI chairman Sanjay Jain appealed to Prime Minister Narendra Modi and the government to extend the benefits of RoSCTL to the yarn and fabric segments and stated this would help them achieve higher growth trajectory and generate more employment opportunities. 

Jain said a Confederation of Indian Textile Industry (CITI) analysis of the quick estimates of shipments of textile and apparel for July 2019 shows there is an increase in the exports of apparel while cotton yarn and fabric exports have declined by 9.98 per cent and 10.54 per cent, respectively on year-on-year and cumulative basis.

Published On : 20-08-2019

Source : Millennium Post

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