Exports of Cotton textile products such as Made-ups ((including home textiles), Fabrics and Yarns have reached US $13.95 billion from April 2021 to February 2022, surpassing the Government's target of US$ 12.50 billion.
In a statement today, Manoj Patodia, Chairman of The Cotton Textiles Export Promotion Council ( TEXPROCIL), said, " Exports of Cotton textiles have exceeded the target by 102% in 11 months itself which is a landmark achievement in the history of cotton textile exports ".
Chairman, TEXPROCIL expressed his sincere thanks to the Hon'ble Prime Minister Narendra Modi for his visionary leadership and support to the textiles industry and for the historic steps taken by the Government by extending the RoSCTL scheme for Made-ups and Garments for three years till March 31, 2024, and by covering the entire value chain of textile products under the RODTEP scheme. These schemes reimburse the incidence of duties & taxes, including embedded taxes incurred on the export products, thereby making them more competitive, pointed out Patodia.
The Chairman, TEXPROCIL, also expressed his sincere thanks to Piyush Goyal, Hon'ble Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, for his directions and continuous engagement with the exporters that has led to this exponential growth in exports of cotton textile.
The Chairman, TEXPROCIL, also expressed his thanks to Smt Darshana Jardosh, Minister of State for Textiles, for her encouragement which she has always given to the textile sector.
Manoj Patodia pointed out that there is an increase in exports of all the products in the cotton textiles value chain.
Patodia expressed his confidence that with the extension of the Interest Equalization Scheme, the Historic signing of the Indo UAE FTA in record 88 days, fast-tracking of FTAs with the UK, GCC, Australia and Canada, and the Government initiatives on Ease of Doing Business and Infrastructural & logistics development, exports of cotton textiles will continue to be on the growth trajectory.
The Chairman, TEXPROCIL, however, appealed to the Government to consider the removal of Customs duty on raw cotton and also to include Made ups in the scheme for duty-free imports of specified items that have been introduced in the Union Budget 2022 for textile garments which will lead to significant growth in exports of Made-ups.
Manoj Patodia complimented all the members of TEXPROCIL for these outstanding exports of cotton textiles.
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( With inputs from ANI )
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