The Government has recently announced fresh incentives to the garment export industry. “The decision to extend 2% Interest Subvention Scheme for specific sectors up to 31st March 2014 is a timely move and will help in boosting the exports. It will surely give needed thrust to the apparel and textiles sector which was reeling under the sluggish markets of US and Europe,” said Dr. A. Sakthivel, Chairman AEPC.
He also thanked the Textiles and Commerce Minister Anand Sharma for the decision to grant incentives on incremental exports made during the period Jan.-Mar. 2013 over the base period Jan.-Mar. 2012. This incentive would be available to an IEC holder at the rate of 2% on the incremental growth of exports made to USA, EU and countries of Asia. 74% garments exporters would get the benefits of this scheme, he added.
On the extension of markets for Market Linked Focused Product Scheme and Special Focus Market Scheme, the Chairman said that it would help in boosting the exports to non-traditional markets and help in product diversification drive.
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