The Cotton Textiles Export Promotion Council (TEXPROCIL) has welcomed the issuance of Govt. notification on the continuation of Scheme for Refunding State and Central Taxes and Levies (RoSCTL) for the Garments and Madeups sector.
Terming it as a historic step, Manoj Patodia, Chairman Texprocil thanked Prime Minister Narendra Modi for recognizing the potential of the Madeups/Home Textiles sector as an engine of economic development by providing employment, promoting inclusive growth and ensuring the empowerment of women.
The continuation of the RoSCTL Scheme for four years till 2024, lays down the foundation for reaching the export target of $100 billion in the Textile and Apparel sector in the said period, Patodia added.
The exporters will also be encouraged to enter into long term contracts with their buyers in view of the stable policy which will lead to higher export growth. The vision of the Prime Minister has set the country on the path of achieving the export target of $400 billion this year (2021-22) and the Textile & Clothing sector will make a significant contribution in realizing the same.
