In a move to boost shipments to markets like the US and the European Union (EU) nations, the government has extended export duty benefits to certain labour intensive sectors including textiles and leather. Directorate General of Foreign Trade (DGFT) has noted that export of products of high labour intensity and employment potential would be eligible to avail incentives at the rate of 2 percent of free-on-board value of exports.
Encouraged over the latest DGFT’s move, Apparel Export Promotion Council (AEPC) Chairman Virender Uppal has asserted that DGFT’s decision would surely go a long way to offset infrastructure inefficiencies and other associated costs involved in manufacturing and marketing of these products. Further, he added that it is a well-timed move to boost exports at a time when textile industry is struggling with high input costs and slowdown in global markets. AEPC expects apparel exports to cross $15 billion this fiscal.
During April-January’FY14, value of exports increased by 5.71% to $257.09 billion as against $243.19 billion in the same period of previous fiscal year. The government has set $325 billion export target for the current fiscal year and the country needs about $68 billion in the remaining two months of the fiscal to meet the set target.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: