GOVERNMENT
REGULATIONS
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| SRTEPC
chairman welcomes New Exim Policy |
Mr.
Ganesh Kumar Gupta, chairman of The Synthetic & Rayon Textiles Export Promotion
Council has welcomed the new exim policy. He also appreciated
the setting up of special economic zones to enable hassle-free manufacturing
and trading activity for the purpose of exports. The efforts of the
union commerce minister to involve the state governments in the export
promotion and the allocation of special funds for the same are
well thought out and timely measures, according to him.
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The
simplification of the EPCG scheme along with the abolition of countervailing
duty for all sectors is welcome. Allowing the import of second hand
machinery on surrender of SIL will facilitate rapid modernisation of the
textile industry.
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| Mr.
Gupta also welcomed the introduction of post-shipment duty free replenishment
licence scheme. However, he expressed serious concern over the drastic downward
revision in the DEPB rates of man-made fibre textile items. |
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