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Apparel exporters to launch agitation against drawback rate cut
Captains of the $ 6 billion Indian apparel export industry said, on Thursday, they will launch a country-wide agitation against a big reduction in the duty drawback rates.
Captains of the $ 6 billion Indian apparel export industry said, on Thursday, they will launch a country-wide agitation against a big reduction in the duty drawback rates.
Briefing reporters in New Delhi, President of the Tirupur Exporters Association, Kandaswamy went to the extent of saying that there would be suicides in his areas if the government did not roll back the cut in the duty drawback rates.
Chairman of the Apparel Export Promotion Council, Raju Goenka said the country's top garment exporters have sought the support of textile minister Kashiram Rana in prevailing over the revenue department in the finance ministry which has effected the new drawback rates effective from Thursday.
Goenka said, “The garment exports had already registered a drop of 15 per cent. With the reduction in the drawback rates, exporters will cancel all their orders because the revision has come like an earthquake for them.''
Exporters said the revenue department has cut the drawback rates from the prevailing 15 per cent to 5.5 per cent to 9.5 per cent.
President of the Apparel Exporters Manufacturers Association Hari Kapoor said more than the cut in rates, it was the ceiling of drawback which has hit the exporters. Besides, about 20 per cent of the garment items like the jumpers, kurtas and ensembles were not included in the list meant for drawback reimbursements.
Bureau Report
Chairman of the Apparel Export Promotion Council, Raju Goenka said the country's top garment exporters have sought the support of textile minister Kashiram Rana in prevailing over the revenue department in the finance ministry which has effected the new drawback rates effective from Thursday.
Goenka said, “The garment exports had already registered a drop of 15 per cent. With the reduction in the drawback rates, exporters will cancel all their orders because the revision has come like an earthquake for them.''
Exporters said the revenue department has cut the drawback rates from the prevailing 15 per cent to 5.5 per cent to 9.5 per cent.
President of the Apparel Exporters Manufacturers Association Hari Kapoor said more than the cut in rates, it was the ceiling of drawback which has hit the exporters. Besides, about 20 per cent of the garment items like the jumpers, kurtas and ensembles were not included in the list meant for drawback reimbursements.
Bureau Report