RoSCTL extension: Textile exporters to enter long term contract

The extension of the Rebate on State and Central Taxes and Levies (RoSCTL) scheme for garments and made-ups exports till 2024 would help exporters to sign long term contracts and achieve the target of $100 billion set by the government.

Manoj Patodia, Chairman, The Cotton Textile Export Promotion Council of India, said the government has recognised the potential of the made-ups and home textiles sector as an engine of economic development by providing employment, promoting inclusive growth and ensuring empowerment of women.

The continuation of the RoSCTL Scheme till 2024 lays down the foundation for reaching the target of $100 billion in the textile and apparel sectors, he added.

With a stable policy regime, he said, the exporters will also be encouraged to enter into long term contracts with their buyers which will lead to higher export growth.

The textile and clothing sector will make a significant contribution realising the overall export target of $400 billion by 2024, he said.

HBL