India’s Carpet Export Promotion Council (CEPC) recently wrote to textiles minister Smriti Irani seeking export assistance in the wake of supply chain disruption arising out of the COVID-19 pandemic. Its chairman Siddh Nath Singh urged the ministry to restore the Merchandise Exports from India Scheme (MEIS) benefit to the earlier 7 per cent from 5 per cent now.
Employing more than 20 lakh weavers, mostly in rural areas, the carpet industry is export-oriented and earns more than ₹12,000 crore of equivalent foreign exchange annually, Singh said in his letter.
CEPC also called on the government to provide 5 per cent interest subvention to micro, small and medium enterprises (MSME) exporters on packing credit finance on additional loan limits.
The industry needs access to natural fibres like sisal, hemp and sea grass that are used for making carpets at competitive rates, Singh was quoted as saying by a news agency.
Source:Fibre2Fashion News Desk (DS)