The government panel tasked to determine tax refund rates for overseas shipments from special economic zones and export-oriented units under export promotion scheme RoDTEP will submit its report on December 20, an official said. These sectors were left out in the earlier exercise which was conducted in August 2021.
The government in August last year had announced the rates of tax refunds under export promotion scheme Remission of Duties and Taxes on Exported Products (RoDTEP) for 8,555 products such as marine goods, yarn and dairy items.
As SEZs (special economic zones) and EOUs (export-oriented units) were kept out of the scheme in the list notified that time, the industry was demanding to include them in the scheme.
Under RoDTEP, various central and state duties, taxes, and levies imposed on input products, among others, will be refunded to exporters.
The three-member committee is chaired by former secretary G K Pillai. The other two members include former CBEC member Y G Parande and former customs member Gautam Ray.
"The committee will submit its report on December 20 and based on that decision will be taken," the official said.
The Directorate General of Foreign Trade (DGFT) had stated that the committee would determine RoDTEP rates for AA (advance authorisation)/ EOU/ SEZ exports; and give supplementary report/recommendations on issues relating to errors or anomalies, with respect to the RoDTEP schedule of rates notified last year.
Source: The Economic Times
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A team of 12 members of the Garments Exporters of Rajasthan visited a few places in the Rapthadu Assembly constituency in Anantapur district on Sunday to assess the possibility of setting up garments manufacturing clusters.After the team visited the 60-acre vacant land alongside the Alumuru Jagananna Colony, Rapthadu MLA Thopudurthy Prakash Reddy told mediapersons that the manufacturers seemed intent upon utilising the land in view of the easy availability of the workforce.“Chief Minister Y.S. Jagan Mohan Reddy is contemplating setting up manufacturing units in adjoining spaces of Jagananna Colonies to generate employment opportunities for those living in the colonies,” he added.Some entrepreneurs and manufacturers from Tirupur Garment Manufacturing and Exporters’ Association in Tamil Nadu also had come and inspected the land here to assess if such units could be set up here, he added.
Source: The Hindu
Indian exporters are benefitting from the alternate supply chains trends witnessed across the western region to de-risk from China, particularly in the post-Covid and high-tension geo-political environment, Brokerage firm Emkay Investment Managers said.
Source: The Print
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Union Commerce and Industry Minister Piyush Goyal graced the the Ahimsa Vishwa Bharti National Conference as Chief Guest. The Conference is being held in Mumbai today, 6th November 2022. The Minister highlighted India’s mission to become a Vishwaguru at the event. Also present at the event were Governor of Maharashtra, Bhagat Singh Koshyari, Acharya Dr.Lokesh Muni and other dignitaries from Ahimsa Vishwa Bharti. Addressing the Conference, Minister Piyush Goyal said saints & sages ignite the spark that enables one’s work to shine bright. We sometimes need to be reminded of our duties and sages do just that, said the Minister.He further added that one needs to link religion with everyday life without getting caught up in the world of rituals and described Acharyas like Dr. Lokesh as those who exemplify this ideal.
Speaking on the country’s mission to become Vishwaguru, Union Minister Piyush Goyal cited the unprecedented success of programmes like Har Ghar Tiranga, where it was near impossible to find even a single home that did not have the national flag hoisted in it. Calling India, a bright spot in an otherwise world of gloom, he said every Indian is witness to the progress that the nation is making.
Minister Piyush Goyal added that Prime Minister Narendra Modi in his Panch Pran has appealed to the country to discard the colonial mindset and go back to our roots, following our family values, heritage, and ethos. The Prime Minister’sPanch Pran will keep guiding us even in our day-to-day life, he said.
The Minister observed that the Jain religion’s teaching tocare for society as one cares for oneself is vital for the country’s progress. When India’s citizens decide that India is to become a Vishwaguru then there is no force in the world that can prevent it, concluded the Minsiter
Governor of Maharashtra Bhagat Singh Koshyari on the occasion said that, our country is known for its sages. Sages have played a foundational role in building the country added the Governor. While we tend to forget the contributions of Kings we should never forget the contribution of sages in nation building said Governor Bhagat Singh Koshyari. He noted how the country has successfully thwarted many foreign invasions owing to teachings of sages. Governor went on to describe how the American media, mesmerised by personality of Swami Vivekanand, called him a living Christ. Governor expressed confidence that India will keep progressing as long as the country remembers the traditions of Saints.
Source: PIB
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With an aim to further boost investment in the cultural heritage of the state the first Rajasthan Handicraft Policy 2022 was launched on September 17, 2022, by the state government Industries Minister Shakuntla Rawat said that the objective of Rajasthan Handicraft Policy-2022 is to provide better marketing arrangements for the upliftment of handicrafts, to revive traditional and extinct arts as well as to create new employment opportunities. "The prime objective of the Rajasthan Handicrafts Policy-2022 is to set up the essential infrastructure in the state for the sector. The policy focuses on empowering handicrafts for the growth of the state by ensuring participation and generating new employment opportunities. It also aims to make the state's products exportable and gain international reputation," said Shakuntla Rawat. "To empower the artisans the policy has provisions like organizing the national level handicrafts week every year, state-level awards in various categories, brand building, e-marketing, social security, loan facility, scholarship and assistance for participation in fair exhibitions as well as craft villages. This also includes provisions for the handicraft parks, design centres, sales centres, and the creation of a Directorate of Handicraft," she added. Rawat also stated that this sector not only provides employment to the local people but also earns foreign exchange for the state. The state houses about 6 lakh craftsmen and artisans. In the year 2020-21, Handicrafts worth Rs 6205.32 crore were exported from Rajasthan; besides this, Gem and Jewellery worth Rs 4067.36 crore, Textiles worth Rs 5729.29 crore, Readymade Garments worth Rs 1764.40 crore and Carpet/Dari worth Rs 464.70 crore were also exported."The Handicraft Exports from the State are constantly on the rise. It is to be recalled that in the year 2016, World Crafts Council (WCC) has declared Jaipur as the 'World Craft City' on account of its havelis, jharokhas, gates ornamented with handwork, paintings, wall paintings and the various types of handicrafts flourishing in the city," said Rawat. "Keeping in mind the development of handicrafts and upliftment of the artisans, for the first time, in 'Rajasthan Investment Promotion Scheme-2019', Handicrafts was included in the 'Thrust Sectors' and made eligible for additional benefits," she added. (ANI)
Source: news.webindia123.com
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India recently expressed ‘serious’ concerns over the growing trade deficit with South Korea during the ninth round of the India-South Korea Comprehensive Economic Partnership Agreement (CEPA) upgradation negotiation in Seoul early this month. The trade deficit stood at about $9.5 billion in fiscal 2021-22, the former’s commerce ministry said in a statement.
The trade deficit between India and Korea stood at $8.1 billion during 2020-21.
The need to have negotiations based on a win-win approach and are forward-looking and outcome-oriented was underlined by both sides.
Sub-groups on trade in goods, services, rules of origin, investment, sanitary and phytosanitary/technical barriers to trade issues held in-depth discussions, a news agency reported.
"India raised serious concerns on the growing trade deficit between the two countries and discussed market access issues. Both sides agreed to work closely to address tariff and non-tariff barriers and deepen the relationship in the services sector," the ministry statement said.
Both sides also feel they should make utmost efforts to expedite negotiations to reach a mutually beneficial and satisfactory outcome next year, it added.
The 10th round of CEPA upgradation negotiations will be hosted by India in early 2023.
The Indian delegation was led by Anant Swarup, joint secretary in the department of commerce, while the Korean side was led by Yang Ghi-Wuk, director general, ministry of trade, industry and energy.
Source: Fibre2Fashion
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The government should focus on primary and higher education in North Karnataka, as the enrolment rate in the region is a pitiable 19 per cent, while the state averages 32 per cent.
Taking part in the recently concluded Global Investors Meet, Union Finance Minister Nirmala Sitharaman said Karnataka is a major generator of jobs, and a mere 5 per cent of the country’s population contributes a whopping 8.8 per cent of the country’s Gross Domestic Product (GDP).Karnataka attracts people from across the country for all kinds of jobs in sectors like IT, textiles, construction and more. But there has been a shrill cry from locals that they are not being given priority in the private sector. Industry experts, however, say there are challenges in implementing this as industries look for appropriately skilled workers.The Sarojini Mahishi Committee in 1984 recommended that Kannadigas be given priority in the private sector. But four decades later, the government is yet to implement it as there are various hurdles, including legal.present BJP government is pushing the Industry Policy 2020-25, which specifies that industries apportion all the D group jobs and 70 per cent of overall jobs to Kannadigas. During the winter session of the legislature, the government tried to pass the Kannada Language Comprehensive Development Bill, which apart from seeking job quota for Kannadigas in the private sector also aims to implement Kannada effectively.Kannada and Culture Minister V Sunil Kumar had said that the Bill specifies reservation for Kannadigas in education and employment. “If the companies do not follow it, the Bill clearly says their incentives and rebates can be withdrawn,” he said. The state government has the sanction to hire 7.7 lakh employees, but is managing with around five lakh staffers. Chief Minister Basavaraj Bommai has said one lakh posts will be filled this year and the remaining 1.5 lakh over the next two years that will open up opportunities for Kannadigas and give a boost to the economy. After the successful completion of GIM, where MoUs worth nearly Rs 10 lakh crore were signed, Bommai told TNIE that the government expects to generate lakhs of jobs from these investments and through other initiatives. The proposed Bill will ensure more jobs for Kannadigas, he added. The unemployment rate in the state is 3.7 per cent in rural areas and 5.1 per cent in urban areas, with an overall average of 3.6 per cent, as per the Economic Survey Report 2020-21.The survey considers anyone engaging in any economic activity for 30 days or more in a year as employed, using the Usual Principal and Subsidiary Status Approach. The report mentions that Karnataka has the lowest level of unemployment as compared to other parts of the country.
IT’S ALL ABOUT SKILL
TV Mohandas Pai, former director of Infosys and present chairman of Manipal Global Education, said that according to the Employees’ Provident Fund Organisation (EPFO), Karnataka adds an average of 11 lakh jobs every year, which is higher than the number of youth entering the working age, meaning Karnataka has a surplus of jobs.He said the government and leaders are focusing only on announcing reservation in jobs for Kannadigas. “It could be a political statement, considering that the state is facing the Assembly polls next year. But one should realise that skilled knowledge and experience are more significant. The government should look into it and train the youth.”The government should focus on primary and higher education in North Karnataka, as the enrolment rate in the region is a pitiable 19 per cent, while the state averages 32 per cent. In Tamil Nadu, it is at a healthy 52 per cent. An industry spokesperson, who is linked to a major manufacturing company, said in principle, there is no problem in giving reservation to locals in the private sector, but the question is how many jobs and what kind of jobs.“The reservation may not affect the manufacturing sector much as skills required are not high. But it is not the case with IT companies operating in Bengaluru as they may not find enough and required talent. North Karnataka may not have any impact as more than 60 per cent of the workforce is Kannadiga,” he added.
CONCERNS
There are also apprehensions that reservation may put innovation on the backtrack. “Now they are talking about ‘Build for the World’. How can you do it with local talent? In high technology, many skill sets are not available in the country. The world is going towards Industry 4.0 and how are you going to implement it if you bring in reservation? Companies have to hire expats and people from other states who are well-versed in technology,” said the industry spokesperson, adding that reservation at the lower level can be accepted.Though some states have introduced job reservation in the private sector, reports suggest that it is not being implemented strictly. “There is a similar rule in Telangana, but there are provisions like paying some amount as a fine for not following it,” another industry expert said.BV Gopal Reddy, president, Federation of Karnataka Chambers of Commerce & Industry, said it is difficult to arrive at a conclusion before the government prepares the draft. “There are various aspects as the quota involves skilled and unskilled workers. We have to see to which sectors, like IT, manufacturing or service, the reservation would be applicable,” he said, adding that the implementation will not be an easy task.Suresh Hari, Chairman of Confederation of Real Estate Developers Association of India - Bengaluru Chapter, said there is a plenty of local talent among blue-collared jobs in the construction sector. From civil engineers to architects, many are Kannadigas.Hari said lower level jobs in their field need training. “If the state government is ready, we are willing to help in providing training,” he said.He pointed out that many years ago, people from outside Karnataka, especially Tamil Nadu and North India, came here for daily wages as locals were not opting for these jobs. Now the scenario has changed as people from North Karnataka and other parts of the state are taking over, he added.
JOB DYNAMICS
Of the estimated 6.11 crore population in Karnataka, 2.44 crore have registered as workers and 55 per cent of the population is in the age group of 20 to 59 years
OF NOTE
Three-fourths of workers are estimated to be in the unorganised sector consisting of agricultural labourers and those in the sub-sectors of non-manufacturing such as shops, establishments & trade, construction, real estate & business activities and hotels & restaurants. Most of the workers in the organised sector are found in manufacturing & mining, and information technology & biotechnology.
LONG-TERM TARGET
Position Karnataka as the preferred destination of choice for skilled human capital in India
Skilling about 1 crore persons Emerge among the top 10 global hubs for highly skilled manpower
Source: The Indian Express
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Although the shipment of the ready-made garments (RMG) to the overseas market is still on the positive trajectory, the important non-RMG products' earnings were falling in recent months, the analysis found.According to Export Promotion Bureau (EPB) data, jute and jute goods, engineering products, agricultural products, frozen and live fishes, chemical products, handicrafts, rubber, carpet, specialized textiles, and glass and glass-ware have recorded a steep fall during the first four months of the current fiscal (FY)2022-23.Most of the above-mentioned products, which are facilitating diversification of Bangladesh's export basket, had been on a rising trajectory until a couple of months ago, the FE finds analysing the EPB data.According to the EPB, the highest export-earning sector-RMG- maintained a 10.55-percent growth during July-October period of the current FY2023.However, export earnings from the light-engineering products plunged 47 per cent during the first four months of the current FY2023 despite an impressive growth shown over the last couple of years.The export of engineering products, a key facilitator to the country's export diversification, dipped to only US$177.81million during the Jul-October period of FY2022 compared to $339.73 million in the same period last FY2022, the EPB data showed.Similarly, earnings from the shipment of agricultural products,another main driver to the export diversification, also plunged by24 per cent to $353.62 million in the period of the current fiscal compared to $464.11 million in the same period last fiscal.The earnings from the frozen- and live-fish shipments also dropped 24 per cent to $171.67 million in Jul-Oct period of the current fiscal from that of $225.23 million in the past fiscal.The foreign-exchange earnings from the chemical products, which had maintained a rising trend a few months ago, also climbed down 25 per cent to $93.59 million.During the July-Oct period, the export earnings from jute and jute goods had fallen by 2.0 per cent to $326.47 million, the official data showed.The earnings from the handicraft, glassware, carpet, specialized textiles, and other manufactures like furniture, golf shaft, optical, photographic and medical instruments, also dipped in the recent months.The FE analysis has found that the agricultural products, leather and leather products, and jute and jute goods, fetched over $1.0 billion worth of export earnings in the last fiscal while light- engineering products, frozen and live fishes, chemical products, glass and glass-ware, rubber, and carpet were also on an impressive trajectory.Meanwhile, the foreign-exchange earnings from the shipments of plastic products, and leather and leather products maintained a growth along with the RMG products during the Jul-Oct period of the current FY2023, the FE analysis has found.Centre for Policy Dialogue (CPD) Distinguished Fellow Prof Mustafizur Rahman told the FE that the demand- side fall and higher raw-material prices might have affected the promising non-RMG products."The sudden impact amid the global scenario, including Russia-Ukraine war and higher energy prices, had already swelled the inflation across the globe, resulting in a cut in demand for the products in the importing countries," he adds.However, if the government ensures trade facilitation and improves the doing- business environment at home, then the export in the future days will again rebound and will help in the diversification of the foreign-exchange earnings, Professor Rahman says.Bangladesh in the last FY2022 earned $52.08 billion worth of foreign exchange from the export of its different products where nearly 82-percent contribution was from the apparel sector.
Source: The Financial Express
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Tens of thousands of Indonesian textile workers are on the chopping block as the industry faces a steep drop in exports while imported clothing eats away at its domestic market share. As of October, at least 64,000 workers from 124 textile firms in West Java had been laid off, with almost 10,000 of them losing their jobs after the closure of 18 companies in the region, the West Java Textile Entrepreneur Association (PPTPJB) reported. Suppliers for some of world’s most prominent apparel brands, such as Nike and Victoria’s Secret, were affected.
Source: https://www.thejakartapost.com
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During a livestreaming session, the anchor of a textile company introduced printed knitwear featuring Southeast Asian styles in front of a smartphone screen, while numerous online viewers from countries of the Regional Comprehensive Economic Partnership (RCEP) watched closely.Zhang Jing, deputy general manager of Guangzhou Textiles Holdings, said that ahead of the Canton Fair that kicked off on Oct 15, the company had analyzed the regional distribution and product preferences of targeted customers, and decided to use livestreaming as a tool to promote cooperation with RCEP member countries.From January to September this year, the company's exports to RCEP member countries rose 23.8 percent compared with the same period of last year."RCEP member countries are not only important Canton Fair participants, but are also major markets served by the fair," said Wen Zhongliang, deputy secretary-general of the Canton Fair.The Canton Fair Global Partnership Program has covered all RCEP member countries and the Canton Fair will continue to provide round-the-clock convenient services for global enterprises, including those from RCEP member countries, Wen added. acia Electrical Appliance is one of the enterprises that benefit greatly from the fair."Our company has always attached great importance to the ASEAN market, and our exports to ASEAN grew nearly 150 percent year-on-year last year," said Ying Zhengbei, manager of the company."After the RCEP agreement came into effect, our company specially set up a business group targeting RCEP member countries. We have made preliminary studies at the Canton Fair, hoping to tap more business opportunities," Ying said.Founded in 1989, Guangzhou Sunny Industrial Co Ltd has participated in the Canton Fair for 16 times, and its thermal insulation containers sell well in Europe, the United States, Japan, the Republic of Korea and ASEAN countries.Ke Bo'er, overseas business development director of the company, said the Canton Fair is not only an important platform to showcase new products, but also a powerful channel to strengthen exchanges with foreign markets and obtain new orders."Our company is expected to receive more than $400,000 in RCEP tariff reductions this year, and these policy dividends will help us win more orders from RCEP member countries," Ke added.In the past two years, Chinese home appliance manufacturer Galanz Group has seen its sales of air fryers double in Southeast Asia, Japan and the Republic of Korea. Its microwave ovens also proved popular in RCEP member countries. The company unveiled multiple products at the Canton Fair and has already won the favor of participants from RCEP member countries.RCEP dividends have been released continuously since it came into effect, including tariff reductions for some products exported to countries in the region, which have greatly improved the competitiveness of products, according to an overseas marketing executive at Galanz.
Source: http://www.chinadaily.com
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China’s textile industry posted stable revenue growth in the first three quarters of the year, official data showed. Textile companies with an annual main business revenue of at least 20 million yuan (about 2.76 million U.S. dollars) raked in 3.86 trillion yuan in revenue in the period, up 3.1 percent year on year, according to the Ministry of Industry and Information Technology.The total value-added output of these companies went down 0.4 percent year on year during the period.The combined sales of main retailers amounted to 12.38 trillion yuan in the January-September period, up 3 percent from a year earlier.The country’s textile and garment exports totaled 248.4 billion U.S. dollars in the same period, an increase of 9.1 percent year on year.
Source: macaubusiness.com
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Bangladesh’s readymade garment exports to the United States in September 2022 increased by 34.63 per cent although the country’s overall apparel exports declined by 7.52 per cent in the month. Exporters attributed shifting of orders from China to the increase in Bangladesh’s apparel exports to the US. Amid the global economic slowdown, Bangladesh’s apparel exports to the US in September 2022 increased by $234.83 million compared with that of the same month of 2021, according to the latest US Department of Commerce’s Office of Textiles and Apparel data.The US is the largest export destination for Bangladesh.The import of apparel by the US from China in September 2022 fell by 9.78 per cent to $2.17 billion from $2.40 billion in the same month of the previous year.‘There are two reasons for the Bangladesh’s export growth in the US market. One is shifting of orders from China to other manufacturing countries and another is increasing demand for knitwear products on the market,’ former Bangladesh Knitwear Manufacturers and Exporters Association president Md Fazlul Hoque told New Age on Sunday.He said that the US buyers were shifting their orders from China in large volumes and Bangladesh was getting a portion of the orders.Not only Bangladesh, some other countries, including Vietnam and India, were also getting the share of orders being shifted from China, Fazlul said.Before the pandemic, Bangladesh’s export item to the US was mainly woven garments, but the demand for knitwear increased on the market for the past two years, he said.Fazlul, however, said that export growth in the US market would fall in the coming months as the overall demand for apparel was going down due to the economic slowdown caused by the Russia-Ukraine war. The data showed that Bangladesh’s RMG exports to the US in January-September of 2022 increased by 50.98 per cent to $7.553 billion from $5 billion in the same period of 2021.The total US imports of RMG from the world in the first nine months of 2022 increased by 34.61 per cent to $78.85 billion compared with that of $58.58 billion in the same period of the previous year.According to the OTEXA data, Bangladesh’s position remained unchanged as the third-largest apparel exporters in the US market with China and Vietnam occupying the first and the second highest positions respectively.The US apparel imports from China in January-September of 2022 grew by 28.94 per cent to $17.72 billion from $13.74 billion in the same period of 2021.RMG imports by the US from Vietnam in the nine months of 2022 increased by $34.69 per cent to $14.59 billion from $10.83 billion in the same period of the past year.India’s RMG exports to the US market in the January-September of 2022 grew by 53.39 per cent to $4.63 billion from $3.02 billion in the same period of the previous year.RMG imports by the US from Indonesia in the first nine months of 2022 increased by 54.66 per cent to $4.44 billion while the imports from Cambodia grew by 46.58 per cent to $3.52 billion in the same period, the data showed.
Source: https://www.newagebd.net
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