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02 Mar 2024, Edition - 3154, Saturday

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Coimbatore

TEA hails Economic Survey

Covai Post Network

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COIMBATORE: Tirupur Exporters Association (TEA) on Monday hailed the Economic Survey, which has called for an expeditious elimination of embedded export taxes, which the association has also been requesting.
Welcoming the suggestion, TEA President, Raja M Shanmugham said that the association has also been requesting for the same and has been appealing to the government to enhance the Rebate of State Levies (ROSL) mainly to compensate the embedded tax.

The Survey 2018 placed in Parliament by Finance Minister Arun Jaitley has said that Exports will be biggest source of upside potential for the economy and has also specifically noted that Textiles and Apparels sector has tremendous potential for growth in exports and employment, particularly, women employment, he said.

The ready made garment exports has been declining in the months of October, November, December by 42 per cent, 13 and 13 per cent respectively in this year compared to corresponding months of last year 2016-2017, he said.

Raja Shanugham expressed hope that the government would consider this issue and announce some positive export measures to revive the exports and sustain in the global market.

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