Since the proposal of duty back rate for 2014-15 is likely to be submitted to the Centre by mid-October, the Apparel Export Promotion Council today sought an upward revision of duty drawback rates for cotton garments, garments made out of blended yarn and man made fibres.
In his presentation to the Duty Draw Back Committee, under the chairmanship of Saumitra Chaudhuri, who visited nearby Tirupur, AEPC Chairman Virender Uppal presented the data of the domestic and export of apparels and requested for increase in duty Draw Back rates for these garments.
Considering the increase in rate of dyes and chemicals and also to compete with neighbouring countries, there was need to increase the rates with an additional three to four per cent, from the present 7.6 per cent, A Shaktivel, president, Tirupur Exporters Association, said.
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Chaudhuri, along with committee members, G K Pillai, Shobha L Chary and Gautam Ray, held discussions with the captains of the knitwear industry, an AEPC release said.
Chaudhuri said the proposal of duty drawback rate of 2014-15 would be submitted to the government by October 15 2014, it said.
