{"id":26213,"date":"2024-01-08T06:29:49","date_gmt":"2024-01-08T06:29:49","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/01\/08\/india-plans-to-set-up-bharat-park-in-uae\/"},"modified":"2024-01-08T06:29:49","modified_gmt":"2024-01-08T06:29:49","slug":"india-plans-to-set-up-bharat-park-in-uae","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/01\/08\/india-plans-to-set-up-bharat-park-in-uae\/","title":{"rendered":"India Plans To Set Up \u2018Bharat Park\u2019 In UAE"},"content":{"rendered":"
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(L to R)<\/strong> Shaleen Toshniwal \u2013Vice President, Dhiraj R. Shah, Convener-Export Award Committee, Shri Bhadresh Dodhia and Shri Piyush Goyal.<\/strong><\/p>\n

Mumbai (Maharashtra) [India], January 8<\/strong>: India plans to set up \u2018Bharat Park\u2019 in UAE where Indian goods show room and warehouses will come up. This will be to facilitate other countries of the world to buy Indian goods from \u2018Bharat Park\u2019 as the payment system is secured in UAE, stated Union Minister of Textiles & Commerce Shri Piyush Goyal. He was speaking as Chief Guest during Export Awards function of The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) on 4th<\/sup> January, 2024 held at Mumbai.<\/p>\n

He further stated the future belonged to Man Made Fibre Textiles (MMF).<\/p>\n

Shri Goyal informed while speaking on FTA (Free Trade Agreement) with\u00a0 Japan, Australia, UAE, S. Korea etc. that the utilisation of FTA benefits are very poor in India is a matter of concern.<\/p>\n

Shri Piyush Goyal announced that BIS will spend Rs. 40 crore to set up 21 testing laboratories at various places in India.<\/p>\n

Shri Bhadresh Dodhia, Chairman \u2013 SRTEPC stated that man- made fibre textiles export in 2022-23 touched US$ 5.8 Billion as against US$ 6.8 Billion in 2021-22, registering a negative growth of\u00a0 (-) 15.3%. Export of technical textiles touched US$ 2.5 Billion in 2022-23 as compared to US$ 2.8 Billion 2021-22, registering a negative growth of (-) 11.9%.<\/p>\n

\"\"<\/figure>\n

Export of man -made fibre textiles during April to October 2023 have touched US$ 3.1 Billion as compared to US$ 3.4 Billion during the same period last year, registering a negative growth of 9.4%. Likewise export of technical textiles touched US$ 1.51 Billion during April to October 2023 as compared to US$ 1.5 Billion during the same period last year, registering a positive growth of 0.5%.<\/p>\n

Shri Bhadresh Dodhia further stated that \u2018we are confident that export of man- made fibre textiles will cross US$ 6 Billion in 2023 \u2013 24 and export of technical textile will cross above US$ 3 Billion\u2019.<\/p>\n

SRTEPC will make its best efforts to increase the export of man- made fibre textiles to US$ 11 Billion and export of technical textiles to US $ 10 Billion by 2030, as per the targets given by the government.<\/p>\n

Manmade fibre textiles sector is facing the problem of inverted duty structure under GST. There is 18% GST on fibres, 12% on yarns and 5% on fabrics. This is leading to accumulated input tax credits with the manufacturers, which id adding to their cost. SRTEPC requests to cover the entire value chain of MMF Textiles products under same rate of GST.<\/p>\n

Shri Dodhia requested government to cover the entire value chain of textiles & clothing under the Interest Equalization Scheme.<\/p>\n

SRTEPC distributed 55 Export Awards for the Year 2022-23. Reliance Industries received 6 awards in various categories. Other award recipients included \u00a0Dodhia Synthetics Ltd., Banswara \u00a0Syntex Ltd., D\u2019 D\u00e9cor, Grasim, Vardhman Textiles, RSWM Ltd. etc. The Lifetime Achievement Award was given to Shri Rakesh Mehra, Women Entrepreneur Award was given to Ms. Neha Jhunjhunwala.<\/p>\n

The Award Function was graced by Smt. Roop Rashi, Textle Commissioner, Mr. Alexander \u2013Poland Ambassador in Mumbai and Mr. Suresh Kotak.<\/p>\n

The Welcome Address was given by Shi Dhiraj Raichand Shah, Convener \u2013Export Award Committee and Vote of Thanks was given by Mr. Shaleen Toshniwal, Vice Chairman \u2013 SRTEPC.<\/p>\n

SRTEPC will be now known as \u2018MATEXIL\u2019 (The Man-made And Technical Textiles Export Promotion Council.<\/p>\n

www.srtepc.in<\/a><\/strong><\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

(L to R) Shaleen Toshniwal \u2013Vice President, Dhiraj R. Shah, Convener-Export Award Committee, Shri Bhadresh Dodhia and Shri Piyush Goyal. Mumbai (Maharashtra) [India], January 8: India plans to set up \u2018Bharat Park\u2019 in UAE where Indian goods show room and warehouses will come up. This will be to facilitate other countries of the world to…<\/p>\n

Read More “India Plans To Set Up \u2018Bharat Park\u2019 In UAE”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":26214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[54],"class_list":["post-26213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/26213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=26213"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/26213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/26214"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=26213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=26213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=26213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}