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3:52 pm - Sunday February 18, 2018

Govt urged to extend refund of state levies on fabric sector

New Delhi: The Textile Export Promotion Council has urged the government to extend the ROSL (Refund of State Levies) benefit of above 5 per cent to the fabric sector, so that the product gets exported and not the embedded taxes.

Council Chairman Ujjawal Lahoti said the weaving capacity has increased by 12 per cent over last seven years, while the woven fabric production has decreased by 3.58% as the fabric export has become incompetitive due to various added costs, non-refund of State levies and the duty free access enjoyed by countries like Pakistan, Bangladesh, Vietnam in EU market.

Hailing the government’s new initiative for the Sustainable and Accelerated Adoption of efficient Textile technologies to Help small Industries (SAATHI) recently, the Council Chairman Ujjawal Lahoti said, this initiative is expected to benefit almost 25 lakh power-loom units in the country which produce 57 percent of the total cloth in the country.

“The use of efficient equipment would result in energy savings and cost savings to the unit owner who would, in turn, repay in installments to Energy Efficient Services Limited (EESL) over a 4 to 5 year period” he said in a statement.

He pointed out that this initiative is a step in the right direction as there is enormous scope for increasing the production and exports of fabrics from India in view of the abundant availability of raw materials and technical skills in the country.

Posted in: Business

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