It is a matter of pride for the HEWA that taking cognizance of the suggestion petitions the union cabinet meeting was convened under leadership of Hon’ble Prime Minister of Sh. Narendra Modi jee on 14.07.2021, wherein it was unanimously decided and declared that RoSCTL scheme will be extended till 31st March 2024 at existing rates. Two suggestion petitions bearing file no. PMOPG/E/2021/0016476 dt. 08.01.2021 and PMOPG/E/2021/0106166 dt. 19.02.2021were sent online to Prime Minister Sh. Narendra Modi ji for intervention in the matter of continuation of WTO compliant RoSCTL scheme.
The extension of the RoSCTL scheme for more than 3 years upto 31.03.2024 will help to offset the Duty Disadvantage which the Indian Textile Exporters were facing for a long time due to LDC status and free trade agreement being enjoyed by our competitor countries such as Vietnam, Turkey, Cambodia, Bangladesh and Pakistan in major International Markets.
The extension of RoSCTL scheme till 31.03.2024 will give stability in the Textile sector as the Indian Exporters will be in a position to cater big orders in International Markets at competitive rates. More and more investors will be attracted towards the Textile Industry which will in turn increase India’s share in the global market.
The RoSCTL scheme is expected to give much needed growth of 12 to 15% CAGR in Exports. India is supposed to export more than 150 billion US dollars by 2024 and have the capacity to generate approx.10 million more new jobs. As Indian Textile Industry is labour intensive Industry and can absorb skilled as well as unskilled male and female workers with a bare minimum 15 days training.
As it is well known that the RoSCTL scheme was suddenly discontinued on 01.01.2021 due to which the small textile exporters were facing hardships for selling their products in international markets at competitive rates.
The HEWA (Home Textile Exporters’ Welfare Association) wrote several representations and suggestions to the PM Office, Ministry of Finance, Ministry of Textile, Ministry of Commerce.
In their struggle for release of RoSCTL the HEWA delegates also met Hon’ble MP Rajya Sabha and India’s Sherpa to the G7, G20 countries Sh. Suresh P Prabhu jee and also theTextile Secretary Sh. Upendra Prashad for continuation of RoSCTL at the earliest.
In turn Hon’ble Sh. Suresh P Prabhu jee forwarded HEWA representations to Hon’ble Finance Minister Smt. Nirmala Sitharaman, Hon’ble Minister of Textile Smt. Smriti Z Irani, Hon’ble Minister of Commerce Sh. Piyush Goyal. Hon’ble Minister of State for Finance and Corporate Affairs Sh. Anurag Thakur also replied to the letter of Sh. Suresh P Prabhu jee regarding RoSCTL scheme.
