During a press briefing on 09.09.2021, the Textile and Commerce Minister Sh. Piyush Goel and Minister of Information and Broadcasting Sh. Anurag Thakur declared that Government of India has approved disbursal of hefty amount of Rs. 56000 Crore arrear to the exporters under various schemes such as MEIS, RoSL, RoSCTL, RoDTEP.
The declaration is a very big relief for the entire Export Industry which includes : MEIS INR 33000 Crore, RoSCTL & RoSL: INR 5500 Crore and few other schemes aggregating INR 5000 Crore. An amount of INR 12500 Crore for RoDTEP and 7000 Crore has been sanctioned for RoSCTL in the year 2021 which is over and above that of 56000 Crore.
As liquidity will be made available to our exporters under various Govt. Schemes, a transformation impact on exporters’ cash flow will be visible in the days to come thereby making India a Global leader in textile sector by achieving the target of 100 Billion Dollar exports from present approx. 30 Billion Dollar and hence move towards the cherished goal of Aatma Nirbhar Bharat mission of PM Modi.
The declaration of release of INR 56000 crore under various tax refund schemes is a result of Modi Government’s continuous efforts and various measures to promote Indian Textile Exports by extending WTO (World Trade Organization) compliant RoSCTL scheme for three years, announcement of RoDTEP rates and also launch of PLI Scheme benefiting MMF (Man Made Fibre) and technical textiles.All together among many positive decisions of Modi Government, the three decisions mentioned in para supra along with proposed FTA (Free Trade Agreement) in major international markets will give a giant leap in Investment, exporters will fetch new orders which in turn will generate more than 10 million new employment opportunities in Textile sector alone.
A positive characteristic of the Textile sector is that it comprises a maximum number of Small, Organized and Unorganized Units and MSMEs which employ more than 45-50 million people working on least investment and maximum employment model.As the Textile sector is going to have a big chunk of benefits from all these fund release under various schemes the positive effect of this will be visible during forthcoming Christmas season as the Exporters will be in a capacity to work out whole heartedly in fulfilling their existing order and will also dare to fetch new orders from International Markets.
HEWA (Home Textile Exporters’ Welfare Association) whole heartily thanked the Modi Government for giving patient hearing to various woes of Indian Textile exporters that were brought to the cognizance of various ministries and government departments by HEWA.We, at HEWA again wish to thank the Indian Government under the able leadership of Hon’ble PM Shri Narendra Modi jee, Finance Minister Smt. Nirmala Sitaraman, Textile and Commerce Minister Shri Piyush Goyal and former Commerce Minister Shri Suresh P. Prabhu Ji and former Textile Minister Smt. Smriti Zubin Irani.HEWA office bearers are also thankful to former Commerce Minister Shri Suresh P. Prabhu Ji and former Textile Minister Smt. Smriti Zubin Irani for sparing their precious time and having meetings with HEWA delegates and keenly listening to various issues raised before them.