India: Textile Interest Subsidy Will Expand

< p > the president of the India Federation of export organizations (FIEO), Ahmed, has asked for the coverage of the interest subsidy scheme. Besides the 134 tax numbers mentioned in January 2013, it also includes 6 tax purposes: "a" href= "http://www.91se91.com/" target= "_blank" > strong > textile > /strong > /a > goods, a a "" "" "" "" "> > < < > > > > 101" tax items "of mechanical products.

Ahmed would like to ease the production pressure of small and medium-sized textile enterprises in the global market downturn.

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< p > 2012, India's knitting industry grew strongly.

Last year, knitted a href= "http://www.91se91.com/" target= "_blank" > strong > clothing < /strong > /a > accounted for 50% of the domestic clothing market in India, accounting for 45% of India's export garments.

Globally, the trade in knitwear is superior to that in non-woven fabrics, and the demand for knitted garments is growing significantly.

During the period 2005~2011, the annual compound growth rate of knitted apparel output reached 7%, and is expected to grow faster in the coming years.

The same is true in India. The annual compound growth rate of knitted garments is expected to reach 9%~10%.

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In May P, accusations against India's textile export subsidies by some members of the WTO continued to heat up.

The European Union and Japan joined the United States and Turkey and jointly asked India to stop providing new subsidies to its textile industry and phasing out existing export subsidies.

But India insists that many of the so-called "subsidies" mentioned by the United States and other members are actually not subsidies, but return on input taxes.

India pointed out that before the phasing out of these measures, the nature of the measure must first be defined.

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< p > at the recent meeting of the Committee on subsidies and countervailing measures of the WTO, the United States expressed concern about the reports of India media on new subsidies to the textile industry. Turkey thought India's export subsidies had caused unfair competition to Turkey's textile industry. Japan and the European Union also expressed concern about this.

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< p > it is understood that the 6 tariff items of India textiles include blankets and travel blankets, sheets, tablecloths, kitchen utensils, curtain, bags and bags.

Mr. Ahmad said that according to the current price, the annual turnover of India's textile industry was 55 billion US dollars, of which 36% contributed to exports.

As the textile industry is a labor-intensive industry, it is of great significance to expand the scope of interest subsidy programs for textile enterprises.

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< p > Ahmed said that in the Twelfth Five Year Plan of India, the document on promoting the export of major industries mentioned that reducing the cost of credit is a prerequisite for promoting exports, and providing interest subsidies to more products is an important measure to reduce credit.

India insiders pointed out that no matter what the market competition will show, in the next few years, India textile industry must begin to enhance its competitiveness, and technological innovation will also be the key to India textile industry's competitiveness and enhancing the added value of products.

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