Wednesday, November 20, 2019
News
NEWS HOME
»
PRESS RELEASES

National Committee on Textiles & Clothing (NCTC) Proposes Measures to Boost the Textile and Clothing Industry
  SocialTwist Tell-a-Friend  
   


Date: 22-10-2019 5:48PM
Source: TEXPROCIL
Category: General, Consumer Interest, Govt. & Public Policy, Clothing And Accessories, Manufacturing Companies, Textiles, Transport
Location: Mumbai, Maharashtra, India

Business Wire India

During the the meeting of National Committee on Textiles & Clothing (NCTC) held recently in Mumbai, seen left to right, Shri Manoj Patodia, Vice Chairman -TEXPROCIL, Shri T. Rajkumar, Chairman - CITI and Dr. Siddhartha Rajagopal, Executive Director -TEXPROCIL
During the the meeting of National Committee on Textiles & Clothing (NCTC) held recently in Mumbai, seen left to right, Shri Manoj Patodia, Vice Chairman -TEXPROCIL, Shri T. Rajkumar, Chairman - CITI and Dr. Siddhartha Rajagopal, Executive Director -TEXPROCIL

With the objective of highlighting the issues and challenges being faced by the textile and clothing industry as well as the urgent policy interventions required to address the same, all the stakeholders of Textile and Clothing Industry, viz., National Textile Associations, Export Promotion Councils (EPCs) as well as regional level textile and clothing industry associations representing the entire textile value chain have formed a steering committee called the “National Committee on Textiles & Clothing (NCTC)” under the chairmanship of Shri T Rajkumar, Chairman CITI.

The NCTC comprises major textile associations and EPCs at the regional and national level like TEXPROCIL, AEPC, PDEXCIL, SRTEPC, CITI, CMAI, ITTA, AFI, AMFII among others. The NCTC is now meeting regularly to discuss various issues ranging from fibres to fashion to arrive at a common understanding on both short term and long term policy measures for domestic and international markets. For the purpose of long term policy measures, the NCTC has decided to hire the services of a competent agency to undertake a study and recommend various policy measures to enable the entire textiles and clothing value chain covering all types of fibres and products to remain globally competitive and achieve a sustained growth rate, both in the domestic and international markets.

In the meanwhile, a list of short term policy measures has been finalised and the NCTC delegation led by Shri T Rajkumar, Chairman CITI met the Hon’ble Ministers for Finance, Commerce and Textiles respectively to apprise them of the grim situation facing the T&C sector. The Hon’ble Minister of Textiles, Smt Smriti Zubin Irani assured the NCTC that all necessary action will be taken for the revival of the industry. The NCTC thanked HMoT for recommending to the Ministries of Finance and Commerce, issues like extending 1-2 years moratorium or liquidity support for the financially stressed textile units; Slotting recycled PSF under 5% GST rate; and the CCI cotton MSP operations to factor in international and domestic prices to protect the interests of farmers and cotton textile industry.

The NCTC delegation led by Shri T Rajkumar, Chairman CITI also met the Hon’ble Minister of Finance, Smt Nirmala Sitharaman on 14th October 2019 and submitted a Joint Memorandum apprising her about the urgent need to release the pending claims under RoSL/RoSCTL Schemes; urging the banks to upload documents expeditiously for release of TUFS Subsidy; extending the benefit of enhanced MEIS & RoSCTL till RoDTEP comes into force; reducing the margin money for working capital from 25% to 10% and the Debt Equity Ratio norm from 1:1.33 for the entire textiles and clothing industry; extending 5% Interest Subvention for all textiles and clothing export products; and also all the benefits announced under special garment export package (SPELSGU) especially the 80JJAA income tax and enhanced EPF benefits extended for new jobs.

The NCTC proposed a slew of short term policy measures to the Hon’ble Minister of Commerce, Shri Piyush Goyal at a meeting held on 15th October 2019 which covered issues broadly related to GST, the Ease of Doing Business and RCEP negotiations. The measures suggested were imposing adequate protection/safeguards measures on the imports of fibres, yarns, fabrics, readymade garments and used cloths especially from China, Bangladesh and Indonesia; extending the benefits of enhanced MEIS & RoSTCL till RoDTEP comes into force; consider including anti-dumping duty in the duty drawback calculation and enhance the rates appropriately; restructure the obligation period under the EPCG scheme; extend the remission of duties and taxes under the proposed RoDTEP scheme for the entire textile value chain viz. all fibres, yarns, fabrics, made-ups, garments, and all types of Technical Textiles. It was also suggested that in India’s list under RCEP all textiles and clothing items must be kept in D Category for 20 years with certain sensitive items under exclusion list.

The Joint Memorandum submitted by NCTC hopes to receive valuable support from the Ministries to mitigate the challenges presently faced by the T&C Industry and boost exports.


More Press Releases

Noxopharm’s Clinical Programs Aiming to Unveil a Potential Blockbuster Drug in the Cancer Treatment Spectrum

Boosting Industrial Output to Reach 5 Trillion Dollar Economy- Dr. Niranjan Hiranandani

Moody’s Analytics Wins Model Validation Category in Chartis RiskTech100®

FLIR Introduces StormCaster Payload Family for its SkyRaider and SkyRanger Unmanned Aerial Systems

Mary Kay Advocates for Global Female Empowerment, Entrepreneurship and Equality at Top Women’s Conferences Around the World

Virgin Voyages Sets Sights on the Med for Second Ship ‘Valiant Lady’ Launching 3 Exhilarating 7-night Itineraries From Barcelona With Overnights in Ibiza

Andersen Global Expands in Bosnia and Herzegovina

Appirio, MuleSoft Partner to Provide Digital Transformation Solutions

Srijan is Now a Certified Great Place To Work

Experience the World of Interconnected Security on IDEMIA’s Booth at Milipol Paris (november 19-22, 2019)

XPRIZE Announces New $10 Million Competition to Preserve Rainforests Across the Globe

Redefine Living With Alcove Realty’s “New Kolkata – Sangam”

British Bag Maker Bucklesbury Benefits From Global Trend Toward More Diverse Business Leadership

World Toilet Day: JICA Celebrates World Toilet Day by Reaffirming Commitment to Help India Maintain Its Open Defecation Free (ODF) Status

Riyadh on Track to Become Sustainable City – International Experts

Indian Chef, Lata Tondon Becomes the First Woman to Win Guinness World Record for Longest Cooking Marathon

ThinkPalm Technologies Launches New Software That Makes Auditing Easier: Q-Aud

Harness the Power of the Bajaj Finserv Business Loan for Doctors

RP tech India Brings Plantronics True Wireless Earbuds BackBeat PRO 5100 to the Market

GoDaddy Brings Ease to Customers With WooCommerce Integration and Updates to GoDaddy WordPress Hosting

Mori Memorial Foundation’s GPCI 2019 Report: London Loses Momentum, Tokyo Is Sluggish and Paris Trends Upward

Diagnose COPD Early to Prevent Lung Attack

GIA India Donates Replicas of Famous Diamonds to Chhatrapati Shivaji Maharaja Vastu Sangrahalaya

Northern Bitcoin Merges With Leading US Competitor

Lineage Logistics Announces Acquisition of Emergent Cold, Expands U.S. Port Network and Strategic Presence in Asia-Pacific Market

New Graduates Highlight Petrofac’s Long-term Commitment to India

China Hi-Tech Fair 2019 (CHTF2019) Concludes in Shenzhen

MSCI Launches Private Offering of $250 Million Senior Notes Due 2029

MSCI Prices $500 Million 4.000% Senior Notes Due 2029

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Assam govt makes sanitary napkins mandat...
BJP trying to divide Bengal on NRC, CAB:...
Farmers use JCB to kill aged bull, Maha ...
Delhi: Sharad Pawar to meet Modi to disc...
Japanese envoy to India takes ride on De...
Indore: Family alleges murder after MBBS...
More...    
 
 Top Stories
After Vodafone and Airtel, Reliance... 
Powerful blasts heard in Damascus, ... 
Korea Masters 2019: Kidambi Srikant... 
Pawar meeting PM doesn't mean 'some... 
Raja Kumari becomes first Indian to... 
Govt will be formed in Maharashtra ... 
Air pollution crisis: Noida continu... 
Emilia Clarke recalls how she dealt...