Thursday, September 23, 2021
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Kashmir silk industry will face more tough times as GoI lowers RoDTEP at 1.2 percent: KCC&I

By INS Desk , in Jammu Regional Srinagar , at August 17, 2021

Srinagar: As the Union Ministry of Commerce, on Tuesday notified the rates for export incentive scheme, RoDTEP, Sheikh Ashiq, President, Kashmir Chamber of Commerce and Industries (KCC&I) has expressed disappointment as the Kashmir silk industry will face more tough times given the latest pronouncement.
As most of the silk carpets come from Kashmir, the latest order, will break the back of the already suffering industry at a time when it needs support from the government.
“The silk carpet and handmade carpet will get a RoDTEP at the rate of 1.2 percent against earlier 5 percent under MEI scheme. Most of the silk carpets are made in Kashmir and this order is a discouraging sign for the dying industry,” said Sheikh Ashiq, as the whole industry is disappointed.
According to him, 1.2 percent is the lowest RoDTEP, and we appeal to the Union Commerce Minsiter to review and hike it it as it will help in revival of the ailing industry.
He also appealed to the B. V. R. Subrahmanyam, Commerce Secretary to Government of India who previously served as Chief Secretary of Jammu and Kashmir Union Territory to help the people associated with this industry and reconsider new RoDTEP order and its impact on stakeholders.
Pertinent to mention, exports from J&K, especially handicrafts and silk are showing a decline trend and it will be further aggravated by the low RoDTEP which will make exports suffer. The KCCI suggested in coming days, a representation will apprise government of the problems and appraise the need for hike in RoDTEP.
The government has decided to extend the benefit of Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to all goods, with effect from January 1, 2021, according to a notification by the Directorate General of Foreign Trade (DGFT). Under the RoDTEP, various central and state duties, taxes, levies imposed on input products among others are refunded to exporters to boost exports.

 

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