The CITI analysis of the quick estimates of T&A exports for July 2019 indicates that these exports increased by 1.22 per cent to US$2,893.66 million in July 2019 as against US$2858.66 million in July 2018. However, exports of cotton yarn and fabrics during the year declined by 9.98 per cent and 10.54 per cent to US$824.41 million and US$ 3,7399 million respectively on Year-On-Year and cumulative basis.
This change in the trends of exports of apparel and cotton yarn/ fabrics is mainly due to the Scheme “Rebate of State and Central Taxes and Levies (RoSCTL)” announced by the Government of India in March 2019 for the Apparel and Made-ups. RoSCTL scheme has been introduced to provide reimbursement of Central and State Taxes to make sure that taxes are not exported along with the products.
CITI has now made an earnest appeal to the Government of India to extend the benefits of RoSCTL scheme to the yarn and fabric segments to help the textile Industry to boost up its export competitiveness in the international markets to achieve higher growth trajectory and generate more employment opportunities to the masses, especially youths and women workforce.