• Download mobile app
06 Oct 2022, Edition - 2641, Thursday

Trending Now

  • Delhi reports 88 new cases, 82 recoveries & zero deaths in the past 24 hours. Positivity rate at 1.01%
  • India sharpens stand on Ukraine war but business as usual with Russia
  • Senior advocate R Venkataramani appointed as the new Attorney General of India for a period of three years.

Coimbatore

Coimbatore spinners welcome MEIS amendment

Covai Post Network

Share

The Indian Texpreneurs Federation (ITF), an association of Coimbatore-based spinners, has welcomed the Ministry of Commerce’s decision amendments of the Merchandise Exports from India Scheme (MEIS). It said that the move will help ease the pressure and boost exports.

Prabhu Damodaran, the secretary of ITF, said that following the amendment, all kinds of textile fabrics, including cotton fabrics, blended fabrics and manmade fibre-based fabrics, now qualify for a two percent MEIS benefit for all categories of countries.

Stating that the textile industry was under a particularly bad spell for the past six months, Damodaran thanked the Union Commerce Minister Nirmala Seetharaman and urged the spinning industry to climb up the value chain and come up with more fabrics to capture the world market.

Subscribe To Our Newsletter

COIMBATORE WEATHER