New scheme to boost apparel exports from September 1

Under the scheme, exporters will be entitled for an authorisation of fabrics including inter lining on pre-import basis, and All Industry Rate of Duty Drawback for non-fabric inputs on the exports.

The authorisation shall be issued for the duty-free import of relevant fabrics, in order to boost apparel exports.

The Union Cabinet had recently approved a Rs 6,000 crore package for the garment and textiles sector with an aim to create one crore new jobs in three years, and increase exports by $30 billion.

India's textiles and apparel exports earned $38 billion in 2015-16, and this figure is likely to touch $50 billion this fiscal. (RKS)

ALCHEMPro News Desk – India