EXPORT INCENTIVES REPRIEVE BUOYS INDIAN COTTON YARN
January 27th, 2014
THE temporary restoration of the Incremental Exports Incentivisation Scheme (IEIS) for Indian cotton yarn will make local spinning more viable in 2014, an industry spokesman has said.Under the IEIS, exporters earn credit amounting to 2% of the duty on annualised increases in exports over qualifying periods and for particular markets, and may either use this to import industry-related goods for themselves or sell the credit to another yarn manufacturer.The industry believes central government’s decision to withdraw the incentive in September last year was ...
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