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By Our Special Correspondent
NEW DELHI, MARCH 15 .The Apparel Export Promotion Council (AEPC) today called upon the Finance Ministry to immediately restore value-based duty drawback policy for garment exports and said the "the logic-defying'' weight-based policy introduced from January was resulting in immense losses to the industry. Addressing a press conference, senior office-bearers of the Council said the industry had already lost about Rs. 325 crores following the new policy, which had jeopardised the plans made by the industry to take advantage of the phasing out of the export quota regime. Emphasising that if the current situation continued, apparel clusters across the country would be badly hit, the AEPC leaders said the clusters in Tamil Nadu, Gujarat and Maharashtra would particularly bear the maximum impact. They also stressed that the weight-based duty drawback scheme was a contradiction in government policies as it has come about even as the country was headed for a modern value added tax (VAT) based scheme. The value-based drawbacks were the only weapons against preferential treatment of some countries in a quota-free world. The weight-based system weakened India's position in the international market, where stiff competition was offered by Bangladesh, Sri Lanka and Pakistan, which were accorded preferential treatment by the Europe Union (EU). The expectations of a 20 per cent spurt in garment export in the wake of the dismantling of the quota regime had now come under a question mark, they added. The press conference was addressed by Vijay Agrawal, Senior Vice Chairman, and Sudhir Kharbanda and Hari Kapoor, Executive Committee members and Harish Ahuja, Vice-Chairman (northern region) of AEPC.
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