A joint memorandum has been submitted to the Union Commerce Minister, Nirmala Sitharaman by various Indian textile associations, looking for two-year extension to fulfil export obligation under the Export Promotion Capital Goods (EPCG) plan. As per the associations, many textile mills were not able to fulfil the EPCG obligation due to global recession in the past six years, therefore extra time should be given and that the export obligation should be only six to eight times of the duty saved. Trade bodies who submitted the joint memorandum include Southern India Mills’ Association, Confederation of Indian Textile Industry, Indian Cotton Federation, Cotton Textiles Export Promotion Council, South India Spinners’ Association, Powerloom Export Promotion Council, Madurai Spinners Association and India Spinning Mill Owners Association.
