Exim policy will have sops for exports sector: SharmaJuly 23rd, 2009 NEW DELHI - The government will announce more sops for the slowdown-hit exports sector in the export-import policy (Exim) for 2009-10, which will be released next month, Commerce and Industry Minister Anand Sharma said here Thursday. "There will be certain measures.
Maran inaugurates India International Garment FairJuly 15th, 2009 NEW DELHI - Union Textiles Minister Dayanidhi Maran inaugurated the 43rd edition of the India International Garment Fair (IIGF) and the first exclusive silk exhibition 'Silk Paradise' here today. More than 200 garment manufacturers and exporters from Delhi, Gurgaon, Noida, Faridabad, Jaipur, Pushkar, Tirupur, Mumbai and Kolkata are participating in the fair.
Varanasi carpet industry hopes for budget sopsJune 29th, 2009 VARANASI - Carpet traders and weavers in Uttar Pradesh are hoping that the forthcoming annual budget will offer some sops to them. Traders and weavers in the state's Bhadohi district, which is famous for hand knit carpets and hand tufted carpets, said they wanted the government to help them regain markets lost due to recession.
Cheap credit, tax exemption for garment exporters advocatedJune 17th, 2009 NEW DELHI - Federation of Indian Chamber of Commerce and Industry (FICCI) has called for cheap export credit and income tax exemption for export earnings for Indias garments exporters. At a meeting with Textiles Minister Dayanidhi Maran Wednesday, FICCI advocated credit for exporters at an interest rate of 7 percent, 100 percent exemption on income tax for export earnings for three years, initiation of skill development programmes, and reimbursement of duties to exporters.
Anand Sharma to seek more help for Indian exportersJune 4th, 2009 NEW DELHI - Commerce and Industry Minister Anand Sharma has said that the ministry will ask the Ministry of Finance for more relief measures for exporters. "We will be making specific recommendations to the fiance ministry, sector specific as well as policy measures to give stimulus to the industries, as I mentioned earlier...I am repeating it, labour intensive sectors, also intensive for exporters and to make Indian products globally competitive, what we are exporting," Sharma said.
Anand Sharma pushes for sops to exporters in budgetJune 3rd, 2009 NEW DELHI - Commerce and Industry Minister Anand Sharma Wednesday expressed concern over the continuing fall in India's exports and said he would push for sector-specific sops to boost the country's external trade in the upcoming national budget. Speaking to reporters after meeting with representatives of leading export promotion organisations, Sharma said the negative trend in exports may to continue for some more time, but that the government will work to minimise the impact of global slowdown.
Exporters meet Mukherjee, ask for Rs.5,000-crore fundJune 2nd, 2009 NEW DELHI - Representatives of the ailing export sector sought a slew of sops including a Rs.5,000-crore market development fund when they met Finance Minister Pranab Mukherjee and top officials Tuesday as part of pre-budget consultations. The exporters' wish-list, apart from the bailout package in the form of a market development fund, also includes elimination of the fringe benefit tax, income tax exemption, reduction of interest rates, and speedier insurance and service tax refunds.
Crisis-hit export sector has wish list for governmentMay 21st, 2009 NEW DELHI - Facing its worst crisis in over a decade, India's ailing export sector wants the new government to gift it a three-year income tax holiday, with experts pushing for concrete steps to protect some 20 million direct jobs in the industry. An appreciating rupee, falling global demand, the high cost of credit and protectionism by some economies like the US are the reasons why India's external trade industry is seeking such sops, after missing the export target for the previous fiscal.
Garment exports fall short of targetApril 29th, 2009 NEW DELHI - Garment exports fell 14 percent short of the $11.62-billion (Rs.581-crore) target for 2008-09 but was 4.6 percent more than that earned last year, the exporters' umbrella organisation said Wednesday. Provisional figures released by the Apparel Export Promotion Council (AEPC) showed $10.13 billion (Rs.56,000 crore) worth of garments were exported last fiscal, as against Rs.48,400 crore ($9.68 billion) in 2007-08.
Japanese firm gives tips to textile industry to fight recessionApril 10th, 2009 BANGALORE - People associated with textile industry received tips to fight recession from a Japanese company at a seminar held in Bangalore. The industrial sewing giant from Japan, Juki, has set up its Indian head quarter in Bangalore.
Bangladesh fears militant attacks on garment factoriesMarch 25th, 2009 DHAKA - Bangladesh Tuesday alerted its intelligence agencies and local governments against possible militant attacks on garment industries contributing major export earnings to its economy, a junior minister said. 'We have alerted the intelligence agencies so that the militants cannot unleash attacks on the ready-made garment industries,' Tanjim Ahmed Sohel Taj, the state minister for home affairs, said at a press briefing after a meeting with the leaders of the Bangladesh Garment Manufacturers and Exporters Association.
60 percent fall in Indo-Pak trade post Mumbai terror attacks: FICCIMarch 12th, 2009 NEW DELHI - As a result of deteriorating indo-Pak relations post the Mumbai terror attacks, cross-border trade is likely to witness a sixty percent decline in fiscal 2009-10. The trade relatio has hit the new low because Indian exporters are scared from doing business with Pakistani businessmen, a FICCI survey has revealed.
Garment exporters want fringe benefit tax exemptionJanuary 19th, 2009 GURGAON - India's garment exporters, grappling with falling demand and increasing competition from countries such as Bangladesh who offer cheaper alternatives, Tuesday said the government should exempt it from the purview of fringe benefit tax. 'We are expecting a stimulus package from the government, and we hope that the garment export sector will be exempted from the fringe benefit bracket as is applicable to IT sector,' Rakesh Vaid, chairman of the Apparel Export Promotion Council (AEPC), told IANS.
10-mn job loss feared in export sector by MarchJanuary 5th, 2009 NEW DELHI - The Indian export sector will lose nearly 10 million jobs by March following cancelled orders and higher transaction costs, a top official of an Indian exporters' forum said here Tuesday. 'This year is already bad for exporters and the next fiscal is only going to be worse.
Next fiscal will be painful for exports: FicciJanuary 3rd, 2009 NEW DELHI - Aggressive pricing by Chinese exporters, coupled with lack of credit flow and cancellation of orders, is crippling India's exports, which may go down further in the first half of 2009, said an industry lobby survey, released here Sunday. According to the report by the Federation of Indian Chambers of Commerce and Industry (Ficci), Indian exporters are facing 'meet the China price' challenge from across the market.
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