Egypt’s parliament recently approved a draft law submitted by the government to authorise the minister of finance to guarantee that the state-run Cotton & Textile Industries Holding Co would fulfil its financial obligations to the Swiss SERY and the Italian SACE agencies. The approval allows the firm to receive a €540-million funding to buy equipment.
As of mid-August, the Asian country will have to apply charges on exports of certain clothing and footwear products.
NEW DELHI: Union Finance Minister Nirmala Sitharaman on Tuesday said that in a bid to boost exports, the Central government has taken several steps including a tax refund scheme and enhanced credit to exporters.
Overtaking all the smart cities that have been lauded as best performing cities in the state during its review meetings, the Tirupur smart city had grabbed third place in the best performing smart cities.
As the Rebate of State and Central Taxes and Levies (RoSCTL) scheme was not implemented in 2019 and the Merchandise Exports from India Scheme (MEIS) also stopped from August last year for the apparel and made-up sectors, these sectors are facing a high liquidity crunch, according to Federation of Indian Export Organisations (FIEO) chairman Sharad Kumar Saraf.
The Indian Texpreneurs Federation and the Federation and Tirupur Exporters Association on Tuesday proposed a meeting of domestic, MNC brands and organised retailers to create a platform with SME textile and apparel manufacturing units in Tamil Nadu.