Union Cabinet extends Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for export of Apparel/Garments till March 2026 | Current Affairs | Vision IAS
News Today Logo

    Union Cabinet extends Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for export of Apparel/Garments till March 2026

    Posted 02 Feb 2024

    Updated 18 Mar 2024

    2 min read

    • Extension of RoSCTL will help in enhancing export cost-competitiveness of apparel/garments and made-ups sectors (includes tarpaulins, tents etc.).
      • It will help in achieving target of taking Indian textile industry to $250 billion by 2030, including $ 100 billion exports. 

     

    • About RoSCTL
      • Introduced by the Ministry of Textiles in 2019.
        • It replaced the Rebate of State Levies (RoSL) Scheme.
      • Objective: To compensate for the State and Central Taxes and Levies on export by rebate.
      • Eligibility: Apparel/garments (under Chapter 61 and 62) and Made-ups (under Chapter 63) Central Excise Tariff Act, 1985.
      • Implementing Agency: Department of Revenue (DoR) under Ministry of Finance.

     

    • About Apparel/Garments (Textile) Sectors
      • Contributes approx. 2.3 % to the country’s GDP, 13% to industrial production and 12% to exports.
      • India has a 4% share of the global trade in textiles and apparel.
      • 5th largest producer of technical textiles in world. 
      • India is one of the largest producers of cotton and jute in the world.
      • 2nd largest producer of silk in the world and 95% of the world’s hand-woven fabric comes from India.

     

    Other Important initiatives 

    • Market Access Initiatives (MAI) Scheme
    • Amended Technology Upgradation Fund Scheme (ATUFS)
    • SAMARTH (Scheme for Capacity Building in Textile Sector)
    • PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks
    • Production Linked Incentive (PLI) Scheme for Textiles
    • National Technical Textiles Mission
    • Tags :
    • export
    • RoSCTL
    Watch News Today
    Subscribe for Premium Features