Knitwear exporters seek release of Rs 450 cr duty drawback

Knitwear exporters in Tirupur today said they have not received Rs 450 crore duty drawback for the last four months which was 'significantly' affecting the working capital and production plans.
President of Tirupur Exporters Association A Shakthivel, in a letter to Finance Minister P Chidambaram, said the units were apprehensive of taking future orders due to financial strain which would affect the growth trend being experienced by the units.
Stating that the units are eagerly waiting for the funds under this account, he urged the FM to advice his ministry to immediately release the amount, considering the requirements of the industry and export growth.