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Goyal, Smriti fix strategy with EPCH to firm up textile exports

Goyal, Smriti fix strategy with EPCH to firm up textile exports
New Delhi: To formulate the strategies for enhancing export in each sector which comes under the Ministry of Textiles and to resolve the problems and challenges faced by the Handicrafts Sector, Piyush Goyal, Union Minister of Finance and Smriti Zubin Irani, Union Minister of Textiles called a meeting with the heads of Export Promotion Councils on Sunday at New Delhi.
O P Prahladka, Chairman- EPCH gave an overview of the sector and also placed before the Ministers strategies being adopted by the EPCH for export growth.
Prahladka informed that both the Union Ministers gave a patient hearing to the issues raised by him and assured all possible cooperation towards resolution of all the issues, which are hampering the exports of handicrafts from the Country. The major suggestions placed by the Chairman included:
• Enhancement of list of essential embellishment, trimmings, tools and consumables to be imported duty free and Exemption from payment of IGST on import of such items.
• Inclusion of 'Merchant Exporters' in the list of exporters eligible for benefit of 'interest equalization scheme' (previously known as "interest subvention scheme").
• Issuance of eBRC in case of Exports of Handicrafts to Iran.
• If Issuance of eBRC is not done by the bank within stipulated time, banks to pay penalty to the exporters.
• Scheme of ' Rebate of State Levies' (ROSL) on Exports of Handicrafts
• Engagement of Foreign Designers in the handicrafts sector to be made easy, cap to be reduced.
• Enhance Allocation of funds under Market Access Initiative and relaxation in Operational Guidelines for Funding Under the MAI Scheme to include Markets of USA, Canada, EU, Japan, and other developed markets for extending invitation to buyers to RBSM's organized in India.
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