Textile Secy, Retail News, ET Retail

The extension of Rebate of Point out and Central Taxes and Levies (RoSCTL) plan, and other initiatives like mega investment textile parks will enable the clothing sector strengthen domestic producing and exports, Textiles Secretary Upendra Prasad Singh has explained. On Wednesday, the Union Cupboard chaired by Prime Minister Narendra Modi gave its acceptance for continuation of RoSCTL plan until March 31, 2024.

Singh explained the clothing sector is vital for the economy as it gives livelihood to a significant phase of population and has a big contribution in the direction of exports and GDP.

His responses arrived while interacting with executive committee users of Clothing Export Advertising Council (AEPC) on Wednesday.

Singh also assured the users of addressing the issues faced by the clothing exporters in expanding their share in the global clothing trade.

“RoSCTL plan, together with the proposed Production Joined Incentive plan and Mega Investment Textile Parks (MITRA), would enable clothing makers see their exports registering a quantum bounce,” AEPC explained quoting the secretary.

Singh also released a compendium on MMF (Gentleman Designed Fibre) clothes for the duration of the conference.

AEPC Chairman A Sakthivel explained the Council has taken a range of initiatives to market MMF clothes and create consciousness between exporters about availability of opportunities for exports in the sector.

“Presently MMF clothes contribute all around USD one hundred sixty five billion in whole RMG (completely ready made clothes) exports of USD 470 billion globally. India’s mill fibre usage ratio of cotton vs MMF is sixty:34. On the contrary, the global mill fibre usage ratio of cotton vs MMF is 30:70. It presents a huge option for Indian clothing makers to diversify in MMF clothes,” Sakthivel explained.