India: AEPC seeks lower import duties on man-mad - sportstextiles: Lea SportsTextiles

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India: AEPC seeks lower import duties on man-made fibres

28/02/2013
India’s Apparel Export Promotion Council has outlined an ambitious plan to double apparel exports in three years to $30 billion, by allowing the import of speciality fabrics that are not widely available in the country.

Dr A Sakthivel, chairman of AEPC, said: “We have submitted a proposal to the Ministry of Textiles for reducing the custom duty at a flat rate of 5% on selected speciality man-made fibre and cotton fabrics for re-export purpose on a trial basis. Our proposal has received a very positive response during my meetings with the cabinet secretary, commerce secretary, textile secretary and the directorate general of foreign trade.”

While the proposal is going through, AEPC has requested at that duty credit scrip at 5% be issued, which will offset import duty on these fabrics. Dr Sakthivel also requested the export benefits announced for 2012-13 be extended for 2013-14 since market conditions have not improved.

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