Govt notified RoDTEP rates will affect Kashmir silk industry: KCCI
Post by on Wednesday, August 18, 2021
Srinagar, August 17: Kashmir Chamber of Commerce and Industries (KCCI) Tuesday said the latest notified rates for export incentive scheme, RoDTEP, will severely affect the once famed silk industry of Kashmir.
President KCCI Sheikh Ashiq said the Kashmir silk industry will face a more tough time given the latest pronouncement under Remission of Duties and Taxes on Exported Products (RoDTEP) scheme.
“As most of the silk carpets come from Kashmir, the latest order, will break the back of the already suffering industry at a time when it needs support from the government,” he said.
“The silk carpet and handmade carpet will get a RoDTEP at the rate of 1.2 percent against earlier 5 percent under MEI scheme. Most of the silk carpets are made in Kashmir and this order is a discouraging sign for the dying industry,” said Sheikh Ashiq.
According to him, 1.2 percent is the lowest RoDTEP. “We appeal to the Union Commerce Minister to review and hike it as it will help in the revival of the ailing industry.”
He also appealed to the B. V. R. Subrahmanyam, Commerce Secretary to Government of India who previously served as Chief Secretary of Jammu and Kashmir Union Territory to help the people associated with this industry and reconsider new RoDTEP order and its impact on stakeholders.