Sunday, February 23rd, 2020

EPCH delegation meets Anand Sharma

INVC,, A delegation of the exporters of handicrafts led by Shri Raj Kumar Malhotra, Chairman, Export Promotion Council for Handicrafts (EPCH) met Shri Anand Sharma, Union Minister of Commerce & Industry, here last evening and thanked him for the initiatives taken by the Ministry of Commerce in supporting the handicraft sector and taking policy measures during the economy crisis. The handicrafts exporters also submitted a report on the Impact Appraisal of initiatives of Ministry of Commerce for the benefit of handicraft sector. In order to keep pace with the evolving opportunities in the sector and meet the demand in the international markets and consumer preferences, Shri Anand Sharma, has intervened and provided a push to the Indian Handicrafts Sector by providing various incentives like inclusion of all handicraft Items under Vishesh Krishi Gramoudyog Yojna entitling 5% duty credit scrips under new special focus product scheme, extension of interest subvention of 2%, classifying Jaipur, Srinagar & Anantnag under town of export excellence, 0% custom duty under EPCG for handicrafts sector, extending export obligation, status holder getting duty credit scrips @1% of the value of past exports, special stimulus for opening of showrooms and warehouses in Latin American Countries. Shri Raj Kumar Malhotra said that the recent stimulus package announced by the Ministry of Commerce has also assured support to the setting-up of warehouse and showroom in Latin America by Export Promotion Council for Handicraft. This would further boost the exports to the new and untapped markets. The continuation of interest subvention of 2% provided to labour intensive sectors such as handicrafts and request to RBI to instruct commercial banks for non crystallization of overdue export proceeds for a period of six months from due date (instead of one month at present) in respect of handicrafts and carpets will also give a push to the handicraft exports at this critical juncture, said Shri Malhotra.

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