Comments
The Tirupur Exporters’ Association has sought an increase in duty drawback rate from the existing 7.9 per cent.
Explaining the plight of the knitwear sector to the Duty Drawback Committee (set up by the Ministry of Finance) comprising Saumitra Chaudhuri, Member-Planning Commission and Chairman of the Drawback Committee, S.B. Mohapatra (former Textile Secretary), T.R. Rustagi, Gautam Ray and Vinod Kumar Agarwal — Members, Drawback Committee, TEA President A. Sakthivel said: “Exports had declined in 2012-13 due to recession in the EU market and less off take in the US market coupled with other adverse factors.’’
Further, due to rising input costs, the average unit value realisation of garments dipped by 5.66 per cent. “We have been unable to add the increase to the garment price because of stiff international competition,’’ he said and stressed the need for an increase in duty drawback rate.
The committee was on a visit to the knitwear hosiery hub.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.