HEWA Expressed Thanks to Modi Government for Extending the RoSCTL Scheme for Three Years

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HEWA (Home Textile Exporters Welfare Association) has actually expressed thanks to the Modi federal government for stating the RoSCTL plan that will be extended till 31st March 2024 at existing rates upto 8.2%on Chapter 61, 62 and 63 in a cabinet conference held on Wednesday,

HEWA Expressed Thanks to Modi Government for Extending the RoSCTL Scheme for Three Years

HEWA RoSCTL The declaration extending the RoSCTL will decrease the expense of fabric item and will offer an equal opportunity for Indian Exporter while negotiating for orders with Foreign buyers. More and more exports of Indian Textiles will be useful in accomplishing the long valued goal of Atmanirbhar Bharat Mission, which in turn produce employment and fetch forex for India. It is a popular truth that RoSCTL plan was stopped on 31.12.2020 and new RoDTEP plan was released on 01.01.2021 without rate alert. Due to which Indian Exporters remained in a state of dilemma and

un-stability was looming at large as they were not able to price estimate competitive rate to International purchasers. It is a matter of pride to state that after taking cognizance of two recommendation petitions sent out by HEWA, the Union Cabinet meeting was convened under able management of Honble Prime Minister of India Sh. Narendra Modi ji on 14.07.2021, where it was unanimously decided and stated that RoSCTL plan will be extended till 31.03.2024 at existing rates. The petitions bearing file no. PMOPG/E/2021/ 0016476 dt.

08.01.2021 and PMOPG/E/2021/ 0106166 dt. 19.02.2021 were sent online to Honble PM for his intervention in the matter of extension of WTO certified RoSCTL scheme. The extension of the RoSCTL plan for more than 3 years upto 31.03.2024 will assist to offset the Duty Disadvantage which the Indian Textile Exporters were facing for a long period of time due to LDC status and FTA being taken pleasure in by Textile Manufacturers of competitor countries such as Vietnam, Turkey, Cambodia, Bangladesh and Pakistan in

significant International Markets. The extension of RoSCTL plan till 31.03.2024 will give stability in the Textile Sector as the Indian Exporters will be in a position to cater huge orders in International Markets at competitive rates. More and more financiers will be drawn in towards Textile Industry which will in turn increase the Indias share in global market. The RoSCTL plan is expected to provide much required development of 12 to 15%CAGR in Exports.

India is supposed to export more than 150 billion US dollars by 2024 and have the capacity to produce approx.10 million more new jobs. As Indian Textile Sector is labour intensive Industry and can absorb experienced along with unskilled male and female employees within 15 days of bare minimum training. As it is well known that RoSCTL scheme was all of a sudden stopped on 01.01.2021 due to which the little fabric exporters were dealing with hardships for selling their items in worldwide markets at competitive rates. The HEWA wrote several representations and tips to PM Office, Ministry of Finance, Ministry of Textile, Ministry of Commerce. In their struggle for release of RoSCTL, the HEWA delegates, Anant Srivastava & Vikas Singh

Chauhan likewise satisfied Honble MP Rajya Sabha and Indias Sherpa to the G7, G20 countries Sh. Suresh P Prabhu ji and likewise Textile Secretary Sh. Upendra Prashad for extension of RoSCTL until rate notice under RoDTEP plan. In turn Honble Sh. Suresh P Prabhu forwarded HEWAs representations

HEWA Expressed Thanks to Modi Government for Extending the RoSCTL Scheme for Three Years

to Finance Minister Smt

. Nirmala Sitharaman, Minister of Textile Smt. Smriti Z Irani, Minister of Commerce Sh. Piyush Goyal. The Minister of State for Finance and Corporate Affairs Sh. Anurag Thakur likewise responded to the letter of Sh. Suresh P Prabhu regarding RoSCTL scheme.

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