India Will Provide Export Incentives For Textile And Leather Enterprises.

Next week, new incentives designed specifically for exporters may be submitted to the India Economic Affairs Commission.

This package will be conducive to the export of all industries, especially at industries that create jobs, such as leather, handicrafts and textiles.

The India export organization Coalition (FIEO) has asked for a 5% increase in DEPB& and tax rebates to offset some of the losses caused by the rupee appreciation.

The alliance also demanded that the tax rebate rate increase by 5% for one year, so that exporters could improve their cost competitiveness.

For labor-intensive industries, FIEO suggests that the Ministry of commerce raise their tax rebate rate or DEPB.

According to the assessment of the Ministry of Commerce, about 200 thousand workers will be laid off at the end of the fiscal year. If the government does not take immediate measures, the figure will continue to expand.

According to the rupee calculation, the export of handicraft industry has dropped by 56%, the export of textile industry has been reduced by 25%, the export of leather products has decreased by 6%, and the export of tea and coffee has decreased by 33% and 20% respectively.