Foreign Trade Policy would not facilitate apparel exporters with higher duty credit advantage under product and market focus schemes, lamented Vijay Kumar Agarwal, Chairman, Apparel Export Promotion Council (AEPC).
The rebate is as low as 2.5 percent of the F.O.B. value of exports rather, it should be at least 10 percent for a wider range of products and markets, said Agarwal.
According to the Government announcement, only handloom products with 'handloom mark' and handicraft items would get advantage of duty credit in exports to only a select group of countries.
The scheme does not include the US and the EU; two major export destinations for Indian textile manufacturers.
The council also wanted solution of pressing issues regarding un-rebated service tax and fringe benefit tax.
marketing@alchempro.com
