shri anil rajvanshi elected srtepc chairman shri sri narain aggarwal elected srtepc vice-chairman

28 Pages·2015·6.47 MB·English

Vol. No.3 | Issue No.10 | January, 2015 | ` 50/- | MUMBAI R.N.I. No. MAHENG / 2012 / 45923
Published on 20th January, 2015
SHRI ANIL RAJVANSHI ELECTED SRTEPC CHAIRMAN
S hri Anil Rajvanshi, Senior Executive Vice President & Head Corporate
Affairs of M/s. Reliance Industries Ltd. (RIL) has been unanimously
elected as the Chairman of The Synthetic & Rayon Textiles Export
Promotion Council (SRTEPC)for a period of two years. Shri Rajvanshi is a long
Standing Member of Committee of Administration of the Council (SRTEPC).
SRTEPC has celebrated its 60 years of service to the MMF textiles industry and the country
in 2014. It has 4000 Members covering both SSI and large enterprises of Manufacturers
and Merchant exporters of MMF textiles.
Shri Rajvanshi is also the member of the National Committee of Textiles of Confederation of
Indian Industry (CII) and Federation of Indian Chamber of Commerce & Industry (FICCI). He
is also associated with the Textiles Committee and represents Reliance Industries Limited
at The Synthetic & Art Silk Mills Research Association (SASMIRA). He has many years of
experience of working with major fibre producers and has been involved with the Indian
Man-made fibre textiles industry since 1989.
Shri Rajvanshi was associated with Acrylic Fibre while at the helm of affairs at Indian Acrylics Ltd.
The Reliance Industries Limited (RIL) is a Fortune Global 500 company and is the largest private sector company in India.
Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre producer in the world and
among the top five producers in the world in major petrochemical products. RIL is the world’s largest producer of Polyester
Filament and Staple fibre with a combined capacity of around 2.75 MMT including the capacities at Recron Malaysia.
Shri Anil Rajvanshi is the Director of Recron (Malaysia) Sdn Bhd, a Reliance Group company and operates world’s largest
integrated textile complex.
SHRI SRI NARAIN AGGARWAL ELECTED SRTEPC VICE-CHAIRMAN
S hri Sri Narain Aggarwal, Managing Director of Prafful Group of Industries,
Surat has been unanimously elected as the Vice-Chairman of The Synthetic
& Rayon Textiles Export Promotion Council (SRTEPC) for a period of two
years. Shri Sri Narain Aggarwal is one of the Senior Members of the Committee of
Administration having experience of more than a decade.
Shri Aggarwal has more than 30 years of experience in the textile field having been looking
after the operational and financial aspect of the Prafful Group. He is the main co-ordinator
for implementing of new projects of the group.
He has been the Regional Chairman of The Synthetic & Rayon Textiles Export Promotion Council
in Surat for a long time and President of Agarwal Vikas Trust, Surat. He is also the Executive
member of Regional Advisor Committee of Central Excise and Customs; Southern Gujarat
Chamber of Commerce in Surat and South Gujarat Processors Association.
Shri Aggarwal is also keenly involved in various social and trade activities in Surat.
January, 2015 INFO SRTEPC | 1
SPECIAL ARTICLE
LATEST INDEX OF INDUSTRIAL PRODUCTION (IIP):
PERFORMANCE OF THE TEXTILE INDUSTRY
As per the latest release of the Index of production has shown positive growth rates since
Industrial Production (IIP) for the month of September 2014. There were 2.5 per cent, 9.6 per
November 2014, sixteen out of the twenty cent and 19.8 per cent positive growth during the
two industry groups (as per 2- digit NIC-2004) in the months of September, October and November of 2014
manufacturing sector have shown negative growth respectively, as compared to the corresponding months
during the month of November 2014 as compared to of last year.
the corresponding month of last year. The industry
However, for the first eight months of current fiscal
group ‘Wearing apparel; dressing and dyeing of fur’
year, i.e., Apr-Nov 2014, the cumulative apparel
has shown the highest positive growth of 19.8% (it
production has declined by 2.5 per cent compared to
was because of low/negative growth in the previous
same period of last year. Notably, apparel production
month), followed by 17.5% in ‘Motor vehicles, trailers
had a cumulative growth rate of 32 per cent during
& semi-trailers’ and 12.8% in ‘Fabricated metal
same period in the last year. The production in apparel
products, except machinery & equipment’.
in first two quarters are almost same or lower than the
Out of two industry groups from T&C which are listed
last year. But, now production in third quarter has been
in overall IIP data, namely textiles and wearing apparel,
higher than the last year.
both have shown a sharp revival in production growth
during November 2014 over same month of last year.
Entire T&C Industry
PERFORMANCE OF THE TEXTILE INDUSTRY Considering the one-third weight of apparel and two
thirds weight of textiles products excluding apparel for
Textiles
estimating the overall production index for T&C as per
CSO data capture the production quantity of yarn,
CSO norm, this industry has grown by a marginal rate
fabrics, made-ups and other textiles excluding
of 0.9 per cent in productions during first eight months
apparel, to make textiles production index. The
of current fiscal year over same period of last year.
change in indices of November 2014 over same
Notably, this sector had grown by 12 per cent in same
period of previous year shows a positive 5.8 per cent.
period of last year. Overall production growth in T&C
Textiles production changes, year-on-year basis, were
industry could be projected, in the range of 3-4 per
positive for six months out of eight months during
cent for fiscal year 2014-15, much lower in comparison
April-November 2014. There is a positive cumulative
to 9.1 per cent growth rate of last year.
production growth rate of 2.5 per cent during Apr-Nov
2014 over same period of last year. Source: http://mospi.nic.in/Mospi_New/upload/
iip_12jan15.pdf
Clothing Sector
The increment in production of apparel on account of vv
festive season demand was expected. So, apparel
2 | INFO SRTEPC January, 2015
1
Shri Anil Rajvanshi elected SRTEPC Chairman
PRINTER, PUBLISHER : V. ANIL KUMAR
& EDITOR
Latest Index of Industrial Production (IIP)
2
Performance of the Textile Industry
EDITORIAL TEAM : SRIJIB ROY,
KRIPABAR BARUAH
4
MESSAGE FROM THE CHAIRMAN
EDITORIAL The Synthetic & Rayon Textiles
SUBSCRIPTION & Export Promotion Council
ADVERTISEMENT OFFICE : Resham Bhavan, 78 Veer Nariman Road,
5
Mumbai - 400 020. Message from the Outgoing Chairman
Phone : [phone]
Fax : [phone]
E-mail : [email protected], [email protected]
6
Market Reports
Website : www.synthetictextiles.org
REGIONAL OFFICES : SURAT
9
In the News
The Synthetic & Rayon Textiles
Export Promotion Council,
Block No. 4DE, 4th Flr., Resham Bhavan,
Lal Dharwaja, Surat - 395 003 11
Frequently Asked Questions (FAQ’s)
Phone : [phone]
Fax : [phone]
E-mail : [email protected] International Price Scenario of Polyester Staple
13
Fibre and Polyester Filament Yarn (PFY)
NEW DELHI
The Synthetic & Rayon Textiles
Export Promotion Council, 14
Taxation under the Goods and Services Tax (GST)
Surya Kiran Building,
Flat No. 602, 6th Floor,
19, Kasturba Gandhi Marg, Turnover of man-made fibre production in
15
New Delhi - 110 001 EU28 in 2013
Phone : [phone]
Fax : [phone]
E-mail : [email protected]
16
Trade Notifications
Printed, published and edited by V. ANIL KUMAR on behalf of
THE SYNTHETIC & RAYON TEXTILES EXPORT PROMOTION
23
COUNCIL, Printed at Kukreja Arts, Works, 65 Ideal Ind. Estate, Export Review
Senapati Bapat Marg, Opp. Empire Dying, Lower Parel, Mumbai -
400 013 & Published from The Synthetic & Rayon Textiles
Export Promotion Council, Resham Bhavan, 78 Veer Nariman Committee of Administration of the Council
Road, Churchgate, Mumbai - 400 020. 27 for the Year 2014-15
Editor: V. ANIL KUMAR
January, 2015 INFO SRTEPC | 3
MESSAGE FROM THE CHAIRMAN
Dear Member,
It is indeed a privilege for me to be elected unanimously as the
Chairman of the Council. I thank each Member of the Committee of
Administration of the Council individually for reposing their trust in
me.
Let me take this opportunity to wish all the Members a Very Happy
New Year 2015. Friends, the Council has completed 60th year of its
service to the MMF textile industry. In these years the Council has
been striving to make its presence visible and its role relevant for the
benefit of the Industry and the Country. There is tremendous scope to
enhance our exports and it would be the endeavour of the Council to
target newer and potential markets in the coming years. Let us adopt a strategy ‘New Markets, New
Products’ to scale up exports to new heights. To accomplish this goal, I seek wholehearted co-operation
and unstinting support from all the Members and particularly the Members of the Committee of
Administration. I also request your active and more involved participation in large numbers in Council’s
events to make it highly successful. Our endeavour must be to make SRTEPC the best among the EPCs.
I will make my earnest efforts to address the problems of the Members from all sections and voice their
concerns with the various authorities at the appropriate level for solutions.
The Council is privileged to have Shri Sri Narain Aggarwal as the Vice Chairman I shall count on his
continued help and support to carry out the activities of the Council. I look forward to work with him
with enhanced synergy.
I take this opportunity to congratulate Shri Rakesh Mehra, the outgoing Chairman and recall his
unstinting support with deep gratitude. The Council has benefited from his foresighted actions and
hard work during his tenure and also seek his active and continued support and association in all our
future efforts to take exports of MMF textiles further to greater heights.
I seek suggestions and views from the Members so that the activities of the Council can be further
improved for their benefits.
Yours sincerely,
ANIL RAJVANSHI
CHAIRMAN
44 || IINNFFOO SSRRTTEEPPCC JJaannuuaarryy,, 22001155
Message from the Outgoing Chairman
Dear Member,
Friends, my tenure as the Chairman of SRTEPC has completed and I am deeply
thankful to each one of you for your valuable co-operation and support during the
past two years.
I am glad to inform you that as per port data, exports of MMF textiles for the
period April-November 2014-15 have been buoyant and the New Year has begun
on a good note with exports for the period recorded at US$ 3391.56 million up by
8.12% compared to the same period last year. Let us hope that this upward trend
continue for the year and the New Year will bring along good tidings for the country
and will be fruitful for Indian exports in general and MMF textiles in particular.
The year 2015 has also started with a happy note that of Brazil terminating its
Anti-dumping duties imposed on viscose spun yarn. This is good for our viscose
spun yarn exporters who were facing problems due to the anti dumping duties levied
by Brazil in the range of US$ 0.40 to US$ 1.42/kg. Let us also await for similar positive moves in Anti-dumping duties
with respect to other countries like Turkey, etc.
As you are aware, the ‘Make in India’ campaign launched by our Hon’ble Prime Minister, Shri Narendra Modi has been
picking up and has received overwhelming response since it was launched in September 2014. The significance of this
initiative is evident from the vibrancy in all fronts in the textile sector especially with exports of textiles and garment
to the single largest market USA posting a record surge. USA was the top market for exports of Indian MMF textiles.
During a recent workshop on ‘Make in India’, the Hon’ble Prime Minister said that his Government was adding a new
paradigm to the PPP (Public Private Partnership) model by involving all the stakeholders in key decision making processes.
He further called for making a globally recognized “Brand India” famous for ‘Zero Defect, Zero Effect’ i.e. manufacturing
free from defects with no adverse impact on the environment. He suggested for maximum movement of 5 Ms – Men,
Money, Machinery, Materials and Minerals across the country to make a successful ‘Make in India’ Programme. Let us
also move ahead in our specific business areas to ‘Make in India’ Mission a grand success in all respects.
I once again express my deep gratitude for all your wholehearted support and assure that I will be with SRTEPC for all
its concerns.
I take this opportunity to express my gratitude to Shri Anil Rajvanshi and other Members of the Committee of
Administration for their constant support and guidance, which helped me in discharging my duties in all realms of issues
concerned with SRTEPC as the Chairman of the Council.
My congratulations to Shri Anil Rajvanshi and Shri Sri Narain Aggarwal on their being elected unanimously as the
Chairman and Vice-Chairman respectively of the Council and sincerely wish them all success in their tenure ahead and
assure them of my support at all times in the future.
I also take this opportunity to wish you all a Happy and Prosperous New Year.
With warm regards,
Yours sincerely,
RAKESH MEHRA
CHAIRMAN
JJaannuuaarryy,, 22001155 IINNFFOO SSRRTTEEPPCC || 55
MARKET REPORT5
USA Among textile mill products, fabric showed a marginal rise in the first
exports grew the fastest by 4.19 eleven months of 2014, it has been
Imports and exports up by 3% in
per cent year-on-year to US$7.830 reported.
the first ten months of 2014
billion, while yarn exports climbed
In 2013, Tunisian textile, garment and
The United States imported textiles
0.76 per cent year-on-year to
leather sector earned 6,227.2 million
and apparel worth USUS$ 91.625
US$4.443 billion and made-up
dinars in exports, registering an
billion in the first ten months of
article exports increased marginally
increase of 5.05 per cent over 2012
2014, registering an increase of 3
by 0.46 per cent year-on-year to
exports of 5,927.8 million dinars.
per cent over imports of US$88.955
US$3.163 billion.
billion made in the corresponding On the import front, Tunisian textile,
In recent years, the US textile and
period of last year. apparel and leather sector spent
clothing exports have been growing
4,394.3 million dinars during the initial
The US imported US$35.750 billion at a slow but steady pace. They
eleven months of 2014, showing a
worth of textiles and garments from have grown from US$19.752 billion
rise of 8.65 per cent over imports of
China, which accounted for 39.07 in 2010 to US$22.432 billion in
4,044.1 million dinars made during
per cent share of all textile and 2011, US$22.670 billion in 2012 and
the same period last year.
garment imports made by the US in US$23.665 billion in 2013.
January-October 2014.
PAKISTAN PORTUGAL
The US import of man-made fibre
(MMF) apparel increased by 9.27 Textile and clothing exports Textile and apparel exports on a
per cent year-on-year to US$29.796 show a marginal rise in the first growth path
billion, and that of wool apparel five months of 2014-15 Textile and apparel exports from
by 10.14 per cent year-on-year The exports of textiles and garments Portugal continued to show growth
to US$3.491 billion, the import of from Pakistan increased marginally by trend, with earnings of €3.9 billion
cotton apparel declined by 2.21 per 0.93 per cent year-on-year to USUS$ January-October 2014, an increase
cent to US$35.654 billion. 5.718 billion in the first five months of 9.2 per cent over the same period
of fiscal year 2014-15 that began on in 2013, it has been reported.
In the non-apparel category, among
July 1, it has been reported.
the top-ten suppliers, the import from During the ten-month period,
Turkey and Italy shot up by 11.06 Exports of cotton fabric dropped Portugal’s garment exports grew by
per cent year-on-year and 8.56 per 12.86 per cent to US$1.030 billion 11.3 per cent year-on-year to €2.340
cent respectively to US$617.346 during the period under review, billion, whereas textile exports
million and US$496.337 million. while bedwear exports increased by increased by 7.6 per cent to €1.006
On the other hand, imports from 0.89 per cent to US$899.731 million. billion, and home textiles and other
Canada dropped by 6.13 per cent to On the other hand, the import of textile made-ups by 3.4 per cent to
US$663.601 million. synthetic fibre by Pakistan surged €540.078 million.
49.40 per cent year-on-year to
In 2013, the US textile and apparel
In October 2014, Portuguese textile
US$242.506 million, whereas imports
imports increased by 3.76 per cent
and clothing exports fetched €416
of synthetic and artificial silk yarn
year-on-year to US$104.725 billion,
million, up 7.2 per cent compared to
witnessed a growth of 19.14 per cent
with apparels alone accounting for
October 2013, and an increase of
to register US$273.244 million. This
US$79.797 billion.
22.2 per cent over September 2014.
shows that textile enterprises have
The exports of textile and apparel
increased the use of synthetic fibre
October was the second-best month
from United States increased by
and yarn in recent months.
in 2014, after July when textile and
2.65 per cent to US$20.502 billion in
garment exports earned €463 million
January-October 2014, compared to TUNISIA
for Portugal.
exports of US$19.972 billion made Marginal rise in exports of textile
during the corresponding period of and garment During January-October 2014,
last year. Tunisia’s textile and garment exports Spain was the main destination for
6 | INFO SRTEPC January, 2015
MARKET REPORT5
Portuguese textile and garments Top export items with high growth percent, accounting for US$18.7
with a share of 31.7 per cent, rates were textiles and garments billion, it has been reported.
followed by France with 13.7 per (22.7 percent).
It is learnt that neighboring Iraq
cent, the UK with 9.2 per cent,
Export turnover target set at US$ remained Turkey’s second largest
Germany with 8.4 per cent, and the
28.5 billion during 2014-15 export destination, following
US with 4.7 per cent.
Germany, despite exports to
Vietnam’s garment and textile
Iraq dropping by 10.1 percent to
Textile and clothing exports industry targets at an export
US$10.6 billion in 2014. Exports to
accounted for 10 per cent of total turnover of US$28.5 billion this year,
Germany increased by 11.3 percent
Portuguese exports during the ten- it has been reported.
to US$14.8 billion and exports to
month period.
The export turnover exceeded
the UK were up 12.6, standing at
From January to October 2014, US$24 billion last year, a year on
US$9.6 billion.
Portugal imported €2.991 billion year increase of 19 percent. Export
Exports to the Middle East were
of textiles and apparel, registering value to the United States market
also up by 6.2 percent to US$29.5
an increase of 7.6 per cent over was estimated at US$9.8 billion, up
billion, with a 61 percent increase
imports of €2.779 billion in the 12.6 percent against 2013 however,
in exports to Syria. While, exports
corresponding period of 2013. it is forecast to be topped US$11
to EU countries increased by 9.2
Of this, textiles (excluding home billion this year.
percent to US$67.6 billion.
textiles) contributed €1.361 billion,
while apparel exports €1.469 billion, The export value to the EU went up Turkey’s first-quarter GDP growth
and home textiles and other textile 17 percent, reaching US$3.4 billion was 4.8 percent, but it slowed in
made-ups €160.090 million. and is expected to hit US$4 billion the second quarter to 2.2 percent
this year. and dropped to 1.7 percent in the
The textile and apparel sector in
third quarter after the ISIL-provoked
Portugal employs about 155,000 Textile and clothing exports geopolitical crisis in Iraq and Syria
people, and in 2013, the sector’s crosses US$24 billion in 2014 affected Turkish economy.
exports increased by 3.5 per cent
Vietnam’s textile and garment The Turkish government has set
year-on-year to €4.3 billion.
exports have crossed US$ 24 billion exports target of US$500 billion by
in 2014 up 19% compared to the 2023.
VIETNAM previous year i.e. 2013.
CHINA
Textiles and clothing rank among Although the FTAs are not yet
top export items to the US implemented, they are a very big Investment rules in three new
attraction to foreign customers when FTZs eased
Vietnam earned US$28.5 billion
from exports to the U.S. in 2014, up they decided to move their orders The Chinese government has been
19.6 percent compared with 2013. from other countries to Vietnam. The authorized to ease investment
In particular, the fastest growth rate FTAs is one of the advantages and rules in three new free trade zones
was seen in such groups as among a prerequisite for continued strong (FTZs), it has been reported.
others textiles and garments (13.9 growth of Vietnam textile industry in The new zones will be located
percent). 2015 and beyond. in south China’s Guangdong
province, southeast China’s Fujian
The U.S. surpassed the EU to
TURKEY province and north China’s Tianjin
become Vietnam’s biggest export
Municipality. The only FTZ currently
market in 2014, a position which the Textile exports up 8%
operating is in Shanghai.
European bloc had held since 2012. Turkey’s exports increased from
EU market lost its top spot to the US$36.1 billion in 2002 to nearly The resolution on temporary
U.S. in 2014 with US$27.9 billion, a US$158 billion in 2014. Textile adjustment of regulations for
14.7 percent annual hike. sector annual exports were up 8 administrative approvals in the new
January, 2015 INFO SRTEPC | 7
MARKET REPORT5
FTZs was passed through a vote financial policies, and opening up free exports on a limited number of
at the bi-monthly session of the more industries to foreign investors. products.
National People’s Congress (NPC)
Exports to the E.U. eligible under
Standing Committee. PHILIPPINES
regular GSP totaled US$ 2.07 billion
According to the resolution, foreign GSP Plus Status by EU last year, 33 percent of total exports.
The status change is expected to
companies will not need government The European Union has approved
increase annual export earnings
approvals to set up ventures in the Philippines’ application for
by as much as 600 million euro
these FTZs, shut down and merge Generalized System of Preference
(US$ 737 million). The Philippines
ventures or change their business (GSP) Plus status, and the country
exported 176 million euro (US$ 216
purpose. Instead, they will only will now benefit from zero tariffs on
million) worth of textiles and textile
need to report business plans to the 6,274 products nearly two-thirds of
articles to the E.U. in 2013, down
authorities. its exports destined for Europe.
by 20.8% from the previous year.
Earlier this month, the State According to reports, the Philippines Garments, textile products and
Council announced that China expects to increase exports to the footwear are among the top sectors
will establish three new FTZs and E.U. by 35 percent and create expected to benefit from the GSP
expand the Shanghai FTZ, in an 200,000 jobs as a result of the upgrade.
attempt to reform the administrative preferential status, which begins as
In the Association of Southeast
system and improve the market of Dec. 25, 2014.
Asian Nations (ASEAN) region,
environment.
which includes Brunei, Cambodia,
The GSP+ program, part of the E.U.
Indonesia, Laos, Malaysia,
Since the launch of the Shanghai Generalized System of Preferences
Myanmar, Philippines, Singapore,
FTZ in September 2013, the (GSP), offers eligible countries zero
Thailand and Vietnam, the
government has used it to test a tariffs on all products covered by
Philippines is the only E.U. GSP+
number of new policies including the scheme. The Philippines already
beneficiary country.
negative list management on foreign benefits from GSP trade privileges
investment, preferential trade and with the E.U., but only enjoys tariff vv
(Excerpts taken from Fibre2fashion and other textile related websites)
Attention: Members
INDIAN TRADE CLASSIFICATION (HS) CODES FOR MAN-MADE FIBRE TEXTILES
A detailed ITC HS Code Book for Indian Man-made Fibre Textiles is available with the Council. The Book contains
Chapter-wise (54 to 63) HS Codes for the following Products.
v Fabrics v Yarns v Made-ups v Fibre
The Book is available for ` 112 (including Service Tax), which can be obtained from the Head office or Regional
Offices of the Council at Delhi and Surat on payment by cash or on the receipt of Demand Draft (in favour of “The
Synthetic & Rayon Textiles Export Promotion Council, Mumbai) for the requisite amount. Please add ` 50/- for
mailing charges, if you require the Book through courier.
8 | INFO SRTEPC January, 2015
in the news
The Board has also decided that with effect from
Indo-Vietnam trade turnover touches US$
31.12.2014 the facility of 24x7 Customs clearance for
5.15 billion in the first 11 months of the year
specified imports viz goods covered by facilitated Bills of
The Vietnam-India bilateral trade turnover in the first Entry and all exports viz goods covered by all Shipping
11 months of the year reached US$5.15 billion, posting Bills will be made available, at 17 air cargo complexes..
an 8.37 per cent year-on-year increase. The two-way
The 17 complexes are: Ahmedabad, Amritsar,
turnover has increased by an average 16 percent each
Bangalore, Chennai, Coimbatore, Cochin, Calicut, Delhi,
year since 2009, making the two countries became
Goa, Hyderabad, Indore, Jaipur, Kolkata, Mumbai,
important trade partners.
Nashik, Thiruanantapuram, and Vishakapatnam.
During Vietnamese Prime Minister Nguyen Tan Dung's
official visit to India recently, the two countries agreed CBEC said related issues such as availability of
to take measures to promote bilateral trade to reach required personnel, keeping open the delivery gates
a turnover target of US$7 billion in 2018, and US$15 24x7 at air cargo complexes etc have been resolved.
billion by 2020.
It is expected that an effective 24x7 Customs
The imported items that saw strong growth include clearance facility will greatly facilitate trade and reduce
cotton (US$237.2 million), machines and equipment transaction cost.
(US$95.5 million) and materials for garments and
textiles (US$28.5 million). Exporters seek rupee payment mechanism
The key commodities that are expected to significantly for trade with Russia
contribute to boosting the two-way trade are among
In face of the instability in the rouble, exporters have urged
others textiles and garments.
the Union government to put in place a rupee payment
The two countries' total exports were worth US$2.27 mechanism for trade with Russia, it has been reported.
billion, an increase of 3.7 per cent over the same
Though the country’s merchandise exports to Russia
period last year. The import turnover posted a 12 per
were invoiced in dollars, the Russian rouble has lost
cent increase from the corresponding period last year
half of its value against the US currency since June due
to reach US$2.88 billion.
to the Western sanctions and the sharp fall in oil prices.
24x7 Customs clearance facility announced India’s exports to Russia in 2013-14 stood at US$
at 13 more airports and 14 sea ports 2.121 billion, down 7.6 per cent from the previous
year, while imports from Russia were valued at US$
The Central Board of Excise and Customs (CBEC),
3.89 billion in 2013-14, down eight per cent from the
under Department of Revenue, India’s Ministry of
previous year.
Finance, has issued a circular announcing extension of
24x7 Customs clearance facility at 13 more airports in Indo-Russian trade stood at US$ 6.01 billion in 2013-
respect of all export goods and at 14 more sea ports in 14, with the trade balance in favour of Russia.
respect of specified import and export goods.
Bank credit to manufacturing sector falls 7%
The Board has decided that with effect from
31.12.2014 the facility of 24x7 Customs clearance According to the RBI Data bank credit to manufacturing
for specified imports viz goods covered by ‘facilitated’ companies went up by 7.3% year-over-year in November,
Bills of Entry and specified exports viz factory stuffed a sharp drop from 13.7% a year ago. The overall non-
containers and goods exported under free Shipping food credit grew 11% year-over-year in November.
Bills will be made available, at 18 sea ports.
Banks had disbursed Rs 25,45,200 crore to the
The sea ports are: Chennai, Cochin, Ennore, Gopalpur, manufacturing companies by November end, RBI
JNPT, Kakinada, Kandla, Kolkata, Mumbai, New data showed. Credit growth to companies engaged in
Mangalore, Marmagoa, Mundra, Okha, Paradeep, services also slowed sharply to 9.9% year-over-year in
Pipavav, Sikka, Tuticorin, and Vishakapatnam. November compared with 18.1% a year ago.
January, 2015 INFO SRTEPC | 9
in the news
allowed dual use both by the SEZ and the domestic
Exports of textiles and clothing to the US
tariff area entities of “social or commercial infrastructure
and EU markets revive
and other facilities”, within non-processing areas.
The ‘Make in India’ campaign has found significance The biggest beneficiary of this move, say analysts, is
in the country’s textile sector exports to its largest ADSEZ, which has a multi-product SEZ spread over
single market, the US, headed for a record surge in 15,000 hectares with a notified area of 6,456 hectares.
the year 2014. Indications of a steady revival in the According to the government notification, non-
US economy hold out hope for the coming year, with processing areas will be divided into two zones,
the buoyancy in the aggregate demand for textile where social or commercial infrastructure and other
and apparel products likely to continue in the coming facilities are permitted to be used by both the SEZ and
months. Exports to mainland Europe too have reported the domestic tariff area entities, and one that will be
a significant momentum this year. exclusively used by SEZ units this area will be bonded
and physically segregated from the rest. While the first
Between January and October, Indian textile and apparel
category will not enjoy tax incentives, the second will
exports to the US rose nearly 6.5 per cent, according
be eligible for tax concessions
data, compared with an average 2 per cent annual growth
in the last five years. The growth in exports this year is Though, the SEZ developer, is given the dual-use
being seen as significant as it happened despite the sharp non-processing area, will get no tax concessions.
strengthening of the rupee since September 2013. The developer must refund prior central or state tax
concessions availed for creation of the infrastructure,
While China’s hold over the US market has been
as per the notification.
loosening on account of increasing labour wages and
According to the Export Promotion Council for Export-
power shortages, India, which was widely seen as
oriented units and SEZs, the change in guidelines will
being in the best position to capitalise on China’s lost
be beneficial to SEZs with infrastructure in the non-
market share, had been increasingly relegated to the
processing area.
position of a supplier of intermediate products to other
successful garment exporting countries. Documents required for exports to be reduced
The Revenue Department has agreed to reduce the number
Metric system in use instead of the ‘yard’ in
of documents required for exports from five to three.
UAE
The move is as part of a government effort to make
The United Arab Emirates (UAE) has replaced its foot,
it easier to do business in India and in line with
inch and yard measurement system with the metric
Directorate General of Foreign Trade's recommendation
system in textile trade, under the national system of
in the 'Trade Across Borders' report. Once implemented,
measurement and calibration, according to the Emirates
the measure will put India alongside the US, Canada,
Authority for Standardisation and Metrology (ESMA).
Japan, Singapore and the UAE in the club of nations
The new system has become effective from 1 January that require just three export documents.
and ESMA has asked fabric and textiles suppliers and
The department is also in talks with the shipping
merchants to comply with the new system and use
ministry to allow faster shipment movement at ports
‘metre’ as a unit of measurement instead of the ‘yard’.
using the electronic route.
Government to allow dual use of SEZ It is learnt that the Commerce Secretary Shri Rajeev Kher
has asked his revenue department counterpart to merge
The Government’s move to allow dual use of social
two export documents, packing list and commercial
and commercial infrastructure in non-processing areas
invoice leaving exporters with just three mandatory
of special economic zones (SEZs) will give a boost to
documents such as bill of lading, commercial invoice
the land monetisation plans of Adani Ports and SEZ
and shipping bill. On the imports side, the government is
Ltd. (ADSEZ), which already has an operational SEZ
working to cut mandatory documents from seven to four.
at Mundra and a large area.
DGFT is also bringing online procedures like Import-
In a gazette notification on January 2, 2015 to amend
Export Code and cargo release order.
the SEZ Rules, 2006, the commerce ministry has vv
(Excerpts taken from various Financial & textile newspapers)
10 | INFO SRTEPC January, 2015