The Cotton Textiles Export Promotion Council has welcomed the changes announced by the Government on Duty Drawback Scheme. The council chairman R.K. Dalmia has said in a press release that new entries have been created in the scheme for cotton yarn mixed with manmade fibre, for both grey and dyed yarn.
In the product coverage, some clarifications are needed with regard to classification of some value items such as boiler suits and protective wear made from cotton and manmade fibre blends.
Though Indian cotton textiles was competitive in the global market, preferential access given to countries such as Bangladesh, Cambodia, Pakistan, South Korea, Turkey and Vietnam by some of the major importing countries and the import duties on Indian textiles in markets such as China, Turkey and Canada were affecting exports.
The Government should fast track foreign trade agreement talks with European Union, Australia, and Canada to remove trade barriers and get market access. He also urged the Government to initiate dialogue with China and Turkey to reduce the import duties on Indian textile products.
In the product coverage, some clarifications are needed with regard to classification of some value items such as boiler suits and protective wear made from cotton and manmade fibre blends.
Though Indian cotton textiles was competitive in the global market, preferential access given to countries such as Bangladesh, Cambodia, Pakistan, South Korea, Turkey and Vietnam by some of the major importing countries and the import duties on Indian textiles in markets such as China, Turkey and Canada were affecting exports.
The Government should fast track foreign trade agreement talks with European Union, Australia, and Canada to remove trade barriers and get market access. He also urged the Government to initiate dialogue with China and Turkey to reduce the import duties on Indian textile products.