Mr. Vijay Agarwal, Chairman, AEPC-on Duty Drawback Rates.
The Duty Drawback Rates have been revised upwards with effect from 01.04.2007 on f.o.b. value as per following:
• From 7.0% to 10.00% on Cotton garments
• From 7.50% to 10.70% on Blended garments
• From 8.10% to 11.50% on Synthetic garments
The drawback value caps have also been revised upwards. The another recommendation of AEPC regarding reduction in pre and post shipment credit has also been accepted by the Government.
AEPC has been requesting that due to appreciation of Rupee, the garment exports were severely hit since April 2007. The measure announced by the Government would help 8000 small and medium garment exporters and would support 27% workers employed in apparel sector out of 84.21 lac workers employed in the private sector.
The downward trend in exports recorded during April-May 2007 would return to positive growth due to relief package.
The relief package would also arrest erosion of trade from India to other apparel manufacturing countries.
Earlier, AEPC has made presentation to Drawback Committee at Mumbai and Tirupur and had submitted the data in support of above drawback rates.
Mr. Vijay Agarwal, Chairman, AEPC pursued the matter with the Government with the Ministry of Textiles and Ministry of Finance from time to time in the furtherance of increase in drawback rates.
Mr. Vijay Agarwal, Chairman, AEPC has complemented Shri P Chidambaram, Hon'ble Union Finance Minister, Shri Shankersinh Vaghela, Hon'ble Union Textile Minister and Shri Kamal Nath, Hon'ble Commerce and Industry Minister for this desired relief.
Apparel Export Promotion Council
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