TEXPROCIL Welcomes Enlargement Of MEIS To Include More Products/Markets

MUMBAI (Commoditiescontrol) - The Cotton Textiles Exports Promotion Council (TEXPROCIL) has welcomed the inclusion of exports of cotton fabrics –both woven and knitted - and Madeups to leading markets including African countries under the Merchandise Exports from India Scheme (MEIS) vide Public Notice No. 44 dated October 29, 2015 issued by the Director General of Foreign Trade (DGFT).

This is a very positive step taken by the Government and has come as a huge relief to the exporters of Cotton textiles who are faced with declining exports , said Shri R.K.Dalmia , Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL).

Exports of value added and labor intensive products like cotton dyed and printed fabrics and made-ups to different African Countries like Mauritania , Mali, Dar Es Salaam, Burkina Faso , Guinea Bissaou, Niger, Benin, Angola, Senegal ,Togo, Ghana, Kenya and Tanzania will receive a huge boost, according to the Chairman, TEXPROCIL Further, the inclusion of various categories of knitted fabrics under the MEIS will also encourage exports of knitted fabrics including knitted fabrics with lycra, said Shri R.K.Dalmia.

Exports of cotton fabrics would get a further fillip of 10 to 15% and India would also link up with the global value chains by offering products at competitive prices. If these measures are also followed up by the much awaited announcement of the Interest Rate Subvention Scheme and an increase in the Drawback rates, exporters will be able to overcome the difficulties which they are currently passing through due to slowdown in the world market. pointed out the Chairman ,TEXPROCIL.

Shri Dalmia expressed his confidence that exports of cotton fabrics and madeups will increase because of inclusion of these items in the Merchandise Exports from India Scheme (MEIS).

Shri Dalmia complimented Shri Anup Wadhavan, DGFT and Ms.Rita Teaotia, Commerce Secretary for responding to the demand of the situation with timely intervention.

(By Commoditiescontrol Bureau; +91-22-40015533)