To boost exports, Government has announced a scheme namely “Scheme for Remission of Duties and Taxes on Exported Products” (RoDTEP) to all export goods, including textiles and garments with effect from 1st January, 2021. Further, in order to boost exports in Man-Made Fibre (MMF) sector, Government has removed anti-dumping duty on PTA, a key raw material for the manufacture of MMF fibre and yarn. Government has also removed anti-dumping duty on acrylic fibre, raw material for yarn and knitwear industry. Assistance is also provided to exporters under Market Access Initiative (MAI) Scheme. Government has enhanced interest equalization rate for pre and post shipment credit for exports done by MSMEs including textiles sector from 3% to 5% w.e.f. 02.11.2018. Benefits of Interest Equalization Scheme have been extended to merchant exporters from 02.01.2019 which was earlier limited to only manufacturer exporters.
Quantum of state-wise exports of textiles and garments during the last 3 years (Mn USD) is attached at Annexure.
Union Budget announcements 2021-22 include the launch of Mega Integrated Textile Region and Apparel (MITRA) Parks scheme. To enable the textile industry to become globally competitive, attract large investments and boost employment generation, 7 Textile Parks will be established over 3 years. This will create world class infrastructure with plug and play facilities to enable and create global champions in exports.
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