India Government Adjusts Tariff To Stimulate Leather Industry Export

< p style= "text-align: center" > < img src= "/uploadimages/201403/04/20140304120610_sj.JPG" align= "center" border= "0" alt= "/" < < > >
< p > the government of India has begun to take measures to seek more export tariff benefits for labor-intensive industries including textiles and leather, so as to promote the export of such industries to the United States and European Union countries. < /p >
< p > India General Administration of foreign trade said in a new circular: "a new tax rate of 2% based on FOB exports is conducive to the export and employment of highly intensive industries." < /p >
< p > India Garment Export Promotion Committee (AEPC) said that the export tariff incentives will benefit India's export of clothing and leather to the United States and EU countries. < /p >
< p > "these incentives are mainly directed at the most densely employed industries. I believe this decision will be able to offset the plagued by weak infrastructure and other manufacturing or marketing costs in the long run. " AEPC president said in his speech. He said that the total export volume of clothing in India is expected to exceed US $15 billion in the current fiscal year. "This is very timely and will greatly help our exports. High input costs and slower global market growth will bring more pressure. " He added. < /p >
< p > India Federation of export organizations also said that the export incentive measures will help increase exports. < /p >
The total export volume of < p > India's fiscal year (last April to January this year) was 257 billion US dollars, an increase of 5.71%. But in the remaining two months of India's fiscal year, it will still need to export about $70 billion to reach $326 billion. This data is mentioned by the finance minister of India P Chidambaram in his speech on the provisional budget. He said India's exports in the current fiscal year are expected to grow by 6.3% to $326 billion. < /p >