Saturday, May 07, 2005
Saturday, May 07, 2005 |
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COIMBATORE: The Coimbatore District Exporters' and Importers' Association has sought modifications in the duty drawback rates for garments even while welcoming the revised rates. Its president, A. M. M. Khaleel, said that employment potential would double with an increase in exports of basic garments. The old drawback rate (on weight basis) of Rs. 42 a kg would have given about 12.5 per cent of drawback on freight on board (f.o.b.) value to exporters of basic T-shirts. However, now the drawback rate was only about 6 per cent. He said the Centre should restore the system of net weight basis or provide 12 per cent on f.o.b. to boost employment in textiles.
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