Page 77 - New Cloth Market December 2022 Digital Edition

NEWS BRIEFS

tainly help to conclude free trade along with few industry members in Trims & Accessories manufacturers.
agreements and give a fillip to trade attendance made suggestions at the The Council made suggestions to be
with these markets in the coming meeting, which were noted for con- considered while finalising the final
months. sideration and action. draft of the scheme so as to get a
large number of investors to partici-
Budget 2023-24 Ministry of Textiles, New Delhi (hy- pate. The Council suggested to allow
Both the government and the indus- brid mode) mix and match of all types of prod-
try are concerned about the recent fall ucts along with a wider coverage of
A meeting was held with the stake-
in exports due to a slowdown in ma- made-up items to include not just
holders for consultation on proposed
jor economies because of global head- Chapter 63 but also made-up articles
PLI-2 under the chairpersonship of
winds. Despite the impending challeng- under HS 9404 and HS 4202. The
Secretary (Textiles) on 14th Novem-
es, trade experts have emphasised Council thanked the government for
ber 2022 at Udyog Bhawan, New Del-
that the need for higher levels of ex- undertaking detailed consultations so
hi through Hybrid mode.
ports will remain one of the key driv- that the benefits of PLI 2.0 Scheme
ers of India’s economic growth in 2023- Shri Vijay Agarwal, Vice Chairman and reaches maximum number of stake-
24. Dr. Siddhartha Rajagopal, Executive holders across made-ups, apparels
Director of the Council attended the and trims segments. 2nd Global Cot-
This has raised the industry expecta-
meeting online. At the meeting, the ton Conference The Council along with
tions that the coming Budget 2023-
Ministry of Textiles came up with re- other apex Cotton sector associations
24 will encourage imports of inputs
vised proposals on the minimum turn- attended the CITI organized “2nd Glo-
rather than finished goods, incentivise
over to be achieved by different ben- bal Cotton Conference” on November
value addition in the country, nudge
eficiaries like Garments, Madeups and 23 in New Delhi. The theme of the
businesses to explore new markets,
boost services exports and provide a
conducive policy environment to make
India part of the global supply- chain
for goods and services.
To help grow our exports by overcom-
ing the diffculties faced by our mem-
ber companies, the Council continued
to participate in consultation meetings
held with the Government and made
suggestions to this accord.
Stakeholders’ Consultation Meet-
ings

Department of Commerce, Mumbai
The Department of Commerce, Min-
istry of Commerce and Industry orga-
nized a stakeholders’ consultation
meeting for the Textiles and Apparel
sector on 14th November 2022 at the
Conference Hall, Textiles Committee
of India in Mumbai.
The main objectives of the meeting
was to understand the concerns faced
by Indian exporters and discuss the
possible ways of further strengthen-
ing our exports. The consultation also
explored possibilities of having Mutu-
al Recognition Agreements (MRAs)
with our trading partners that can help
improve progress in multilateral nego-
tiations and create win-win situation
by reducing complexity. The Council

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