The SRTEPC Chairman pointed out that while announcing the enhanced DEPB rates the Government in July 2007 had made it amply clear that the new DEPB rates were enhanced to lower the impact of the appreciation of the rupee and give exporters some relief.
However, as the rupee appreciation is continuing unabated there is no logic whatsoever in revising downward the DEPB rates at this juncture.
Moreover, such sudden policy reversals by the Government would create an atmosphere of mistrust among exporters making it impossible for them to enter into export commitments.
Shri Saran informed that in view of the seriousness of the situation the Council has already appealed to the Prime Minister to reinstate the previous rates of DEPB and if this is not possible, to give at least three months time for the new rates to be effective so that the exporters get some time to adjust themselves to the new rates.
The Synthetic & Rayon Textiles Export Promotion Council
marketing@alchempro.com
