India General Administration Of Foreign Trade Will Review Export Subsidies For Technical Textiles And Garments
The India General Administration of foreign trade (DGFT) has decided to review the technology.
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All export incentives issued by the Department before April, if there is any export that does not meet the subsidy, may be recalled by the general administration.
After the General Administration of foreign trade cleaned up, 33 categories were classified.
technology
Textiles replace the hundreds of products that were allowed earlier.
In short, technical textiles are their technical properties, materials and products, which are different from other synthetic or synthetic fibers.
They use very high level petrochemical products, showing high toughness and high fiber resistance.
Polyester, viscose, nylon and polypropylene account for 70% of the fiber consumption of the technical textiles.
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It consists of upgraded special fibers.
In a clarification statement, the General Administration of foreign trade said that technical textiles are a product of non aesthetic purpose, and its function is the main criterion.
These include automotive textiles, medical textiles, agricultural textiles and protective clothing, such as heat and radiation protective clothing, firefighter clothing, welder molten metal protective clothing, stab protective clothing, bullet proof vest and spacesuit.
According to official sources, the General Administration of Customs has investigated the interests of exporters of technical textiles.
The survey found that many people took advantage of the export subsidies of these non-technical textile products.
According to official sources, if any exporter has made use of technical textile subsidies which do not comply with the foreign trade bureau's description, he will immediately recover the subsidy.
The exporter said that the General Administration of foreign trade did not clearly define such problems earlier, that is, technical textiles only include synthetic filament woven woven bags.
This may mean pure polyester material or material containing any polymer.
Exporters receive technical textiles export subsidies in accordance with the Ministry of Commerce's key product plan (FPS).
This is aimed at improving the export intensity of selected products and increasing the potential for employment, thereby offset the low efficiency of infrastructure and the other marketing costs of these products.
According to FPS, one export receives 2% of the value of the product tax calculated in foreign currency.
This tax loan can be sold or pferred.
For some products, the tax loan can reach up to 5%.
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