| Date: |
12-08-2016 |
| Subject: |
Scheme to promote apparel exports from September 1 |
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To boost apparel exports, government announced a scheme allowing duty-free import of fabric.
The 'Special Advance Authorisation Scheme' will come into effect from September 1.
"Duty free import of fabric under the Special Advance Authorisation Scheme for export of articles of apparel and clothing accessories shall be allowed" in certain type of products, the Directorate General of Foreign Trade said in a notification.
Under the scheme, exporters are entitled for an authorisation for fabrics including inter-lining on pre-import basis, and All Industry Rate of Duty Drawback for non-fabric inputs on the exports.
The authorisation shall be issued for the import of relevant fabrics including inter lining only as input.
The Union Cabinet recently approved a Rs 6,000-crore package for the textiles sector with an aim to create one crore new jobs in three years and attract investments of USD 11 billion while eyeing additional USD 30 billion in exports.
India's textiles and apparel exports are expected to touch USD 50 billion mark this fiscal from USD 38 billion in 2015-16.
Source : moneycontrol.com
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