INDIA: Garments, textiles get export benefit boost
The Indian government has expanded the number of products that qualify for export incentives to include more textile and garment categories.
The move is part of the country's efforts to boost its exports and diversify into new markets, according to Commerce and Industry Minister Anand Sharma, who announced the plans on Friday (11 February).
Under the Market Linked Focus Product Scheme (MLFPS), products are eligible for benefits of 2% per cent of the FOB value of exports.
Now included in the scheme are 71 additional ready-made garment products for export to the EU, along with textile items like synthetic foam, polyester yarn, and polyester staple fibre.
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