Latest News for Members

• The New Exim Policy was announced on the 31st of March. There is good news for silk exporters. DEPB rates have been fixed for silk fabrics and madeups (besides silk garments which were fixed earlier) The rates are: 15% for silk garments, 13% for silk madeups and 11% for silk fabrics . This will help exporters who want to export under a scheme other than DES
• Silk ties, bowties, silk mufflers are now made freely importable.
• The threshold level for Zero duty import benefit under the EPCG scheme has been brought down for Textile sector from Rs. 20 Crore to 1crore.
• New Drawback rates have been announced. The rates in respect of silk products are as follows with effect from 1/6/1999:- Sr.No. 50.01 Fabric made wholly or predominantly of silk - 3.5% of FOB Value. Sr.No. 62.06 Readymade garments made wholly or mainly of silk - 3.5% of FOB Value. Sr. No. 62.07 Natural silk high fashioned readymade garment with embroidery imported glass beads and sequin - 3.2% of FOB Value. Sr. No.62.12 Handloom/powerloom lungies made of silk including lungies commonly known as sungits - 3.5% of FOB Value. Sr. No.62.14 - Made up articles produced out of fabrics made wholly or mainly of silk - 3.5% of FOB value subject to a maximum of Rs. 73.00.
• EXPORT AWARDS (1998-99)
• The council proposes to grant Export Awards for outstanding export performance in natural silk goods during the period 1st April 1998to March, 1999.
• Gold, Silver and Bronze trophies will be given to the leading exporters in the following categories
• OVERALL, FABRICS, GARMENTS, SAREES, CARPETS AND MADE-UP items.
• Awards will be granted on the basis of Chartered Accountant Certified Annual Export Returns of members filed with the council on or before 30th June, 1999. The applications should be sent in the prescribed form which have been mailed to all the members of the Council. Members are also requested to fill up code nos.(Column No.10) as per Indian Trade Classification based on Harmonised System.
• The Govt. has decided to implement a new system of preshipment inspection. Under this, there will be random inspection by the CSB only at the customs point. The details about how this system is going to be actually implemented are yet to be finalized. This will be publicized on this page as soon as it is done.
• ATTENTION MEMBER EXPORTERS.
• For regular update of Silk news, members are requested to visit this page.

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For further information, please contact:

isepc@bom2.vsnl.net.in
Indian Silk Export Promotion Council,
62,Mittal Chambers,Nariman Point,
Mumbai, Maharashtra 400021
India