Business

Textile Industry Requests The Government For An Extension Of Garment Export Benefits

Textile industry body Cotton Textiles Export Promotion Council (Texprocil) has urged the government to pull out the benefits for garments exporters for a longer stretch to help them compete with players in the countries India has signed free trade agreements (FTA) with. R K Dalmia, chairman of Texprocil, said that considering the infrastructural disabilities, cascading effect of un-rebated taxes, high cost of inputs and preferential benefits granted to our competitors, the government has to play an important role by continuing the export benefits for some more time. This extension the industry feels will benefit India to take an integrated approach to negotiate the new FTA’S and re work the existing ones, in the wake of the emergence of mega trade agreements by United States of America and the European Union amongst themselves and among other key trading partners like Korea, Vietnam and Japan.