SRINAGAR: The Kashmir Chamber of Commerce & Industry (Inc) has hailed Government of India for increasing the rate of incentive and other allowance for Shawl Industry for all the countries under Foreign Trade Policy.
A KCC&I spokesman said in its pursuit to get the additions made in the Foreign Trade Policy 2015-2020 with regard to extension of incentives allowed under Merchandise Export India Scheme (MEIS) to shawls exported to all the countries in group A,B, and C of the policy at a higher rate of 3% which was earlier reduced to 2% and allowed for the countries falling only under group A of the policy. No incentives were allowed on export of shawls to the Middle East countries which are the largest buyer for our shawls, the spokesman said.
Immediately on announcement of Foreign Trade Policy, the KCC&I pointed out the non inclusion of shawls for the above said incentives for Middle East countries to the Ministry of Commerce and the Director General Foreign Trade and also sought the help from the State Government to have the issue resolved for the sake of growth of shawl Industry in the State, he said.
A delegation of The Kashmir Chamber of Commerce & Industry headed by its president Mr. Sheikh Ashiq Ahmad accompanied by former President Mr. A. M. Matto called on the Director General Foreign Trade and other authorities of Ministry of Commerce pleading for the increase in the rate of incentive and its allowance for all the countries world over as included in Group A, B and C of the said Foreign Trade Policy.
KCC&I thanked the Government of India for having acceded to the request and allowing the incentive to export of shawls to all the countries at the rate of 3% instead of 2 % as above and feel it to be an Eid gift for the artisans and shawl exporters of the state.
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