RoSCTL scheme: A lifeline for garment exporters amid global turmoil, says AEPC President
28 December 2023, Mumbai
According to AEPC President Narendra Goenka, the RoSCTL scheme, which gives garment exporters a tax rebate on exports until March 2024, is vital in the midst of global economic instability.
He stresses that the industry should innovate, speed up approvals, expand its market and product range, follow a cluster-based approach, seek investments, and boost its brand image to reach its goal of exporting $40 billion worth of goods by 2030.
Geo-political risk
He also encourages the industry to explore the opportunities of e-commerce and FTAs, adopt sustainable and ethical business practices, and cope with the challenges posed by global conflicts such as Russia-Ukraine and Israel-Hamas, as well as supply chain disruptions caused by attacks on vessels in the Red Sea.
The RoSCTL scheme, which was sanctioned in 2021, covers segments such as garments and made-ups, as well as home textile products.
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