The government has restored preferential treatment for cotton yarn exports under the Enhanced Export Incentive System Scheme (IEIS), which was canceled in September 2013.
The scheme was launched at the beginning of this fiscal year and gives exporters a tariff credit of 2% of the value of exported goods, which can be used for import duty-free or for circulation in the market.
“The cancellation of the preferential treatment of the Increased Export Incentive System Scheme (IEIS) has inhibited the enthusiasm of cotton yarn exports, and the restoration of the preferential treatment will be reflected in the export volume of cotton yarn for the rest of the year.” Prem Malik, chairman of the Federation of Indian Textile Industry, said.
Notice from the General Administration of Foreign Trade
The State Administration of Foreign Trade clarified in Announcement No. 66 on February 23 that the standard for unqualified types (cotton yarn) in Announcement No. 43 on September 25, 2013 has been deleted.
The announcement will entitle exported cotton yarn to enjoy preferential treatment under the Enhanced Export Incentive System Scheme (IEIS) in the 2013/14 financial year.
India resumes export of cotton yarn “increased export incentive system plan”
The government has restored preferential treatment for cotton yarn exports under the Enhanced Export Incentive System Scheme (IEIS), which was canceled in September 2013. The scheme was launched at the beginnin…
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