New Delhi, Aug 13 (PTI) Apparel exporters' body AEPC on Friday said the government has notified extension of Rebate of State and Central Taxes and Levies (RoSCTL) scheme, which would help in further pushing the country's outbound shipments.

Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said that it is the first step towards achieving USD 400 billion merchandise exports in the current fiscal.

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Last month, the government approved extension of the scheme under which garment exporters will continue to get a rebate on central and state taxes on their outward shipments till March 2024.

The chairman said that the scheme will ensure refund of embedded taxes, cesses and duties.

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"It will help increase exports of textiles and apparels, attract additional investment and provide direct and indirect jobs to lakhs of people, especially women," he said.

The decision, he said, adds to the stability of the export policy of textiles.

"The scheme will promote start-ups and entrepreneurs to start exporting their products. It will rejuvenate the textiles sector and, in three years, the Indian textile value chain can attain annual exports of USD 100 billion," Sakthivel said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)