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11 Dec 2018, Edition - 1246, Tuesday

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Coimbatore

SIMA hails duty drawback hike, seeks old level for apparel

Covai Post Network

Coimbatore: Southern India Mills Association (SIMA) on Friday welcomed the increase in duty drawback rate for textile items, saying it would help the exporters improve their competitiveness. This was especially in respect with Preferential Trade Agreement (PTA) countries.

The Government announced the duty drawback rates applicable for 2018-19 yesterday, in which there was a marginal increase for several items of textiles and clothing products in the duty drawback rates, SIMA chairman P Nataraj said in a statement.

Though the duty drawback has been increased from 1.2 per cent to 1.7 for cotton yarn, from 1.3  to 1.6 for cotton fabric and from 2 to 2.6 per cent for made-ups, there was a marginal decrease in the duty drawback rates of apparel items, Nataraj said.

Considering the continuous fall in garment exports, the industry was hoping for increase in rates and the government could have at least continued the existing one to sustain the existing level of garment exports, he added.
    

COIMBATORE WEATHER