ENA Sectors 2024-02-01 17:08:30 <p><span style="font-size:14px"><strong>New Delhi, Feb 1 (KNN)</strong> The Union Cabinet has approved the extension of the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of Apparel/Garments and Made-ups until March 31, 2026.</span></p> <p><span style="font-size:14px">Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC), welcomed this decision, stating that the extension of RoSCTL will ensure the competitiveness of Ready-Made Garment (RMG) exports in overseas markets.</span></p> <p><span style="font-size:14px">Chairman Sekhri emphasised the positive impact of the scheme, stating, This extension will immensely help the Apparel Industry to plan business consistently while remaining competitive, especially amidst the unprecedented recessionary trends in traditional markets like the USA and EU. The two-year extension brings much-needed relief to the industry.</span></p> <p><span style="font-size:14px">Expressing gratitude, he added, On behalf of the entire apparel export community, I extend my sincere thanks to Prime Minister Narendra Modi and Minister of Textiles, Shri Piyush Goyal. </span></p> <p><span style="font-size:14px">The RoSCTL scheme aims to rebate all embedded State and Central taxes and levies on garments and made-ups, enhancing competitiveness. The allocation of funds for the scheme has been increased from Rs 8404.66 crores to Rs 9246 crores in the Union Budget 2024-25, as per an AEPC release.</span></p> <p><span style="font-size:14px">Chairman Sudhir Sekhri also shared his positive views on the Union Budget 2024-25, praising it as balanced, reform-oriented, and forward-looking.</span></p> <p><span style="font-size:14px">He highlighted the government's progressive vision for holistic growth and the budget's ability to address both economic growth and geopolitical considerations.</span></p> <p><span style="font-size:14px">The Interim Budget sets a roadmap with a timeframe to position the Indian economy as an attractive destination for investment and growth, according to Sekhri.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36523 https://knnindia.co.in/news/newsdetails/sectors/apparel-exporters-cheer-amidst-extension-of-rosctl-scheme-till-march-2026 2024-02-01 17:08:30 knnindia.co.in