Home / Knowledge / News / Apparel/Garments / Indian govt hikes duty drawback rates to boost exports
Indian govt hikes duty drawback rates to boost exports
19
Sep '13
The Government of India has notified the revised duty drawback rates applicable to articles of apparel and clothing accessories, knitted or crocheted (under Chapter 61 of Customs Schedule); articles of apparel and clothing accessories, not knitted or crocheted (Chapter 62); and other made-up textile articles, sets, worn clothing and worn textile articles (Chapter 63), which would be effective from September 21, 2013.
 
The drawback rates for garments made of cotton, man-made fibre and silk have been increased to 7.6 percent, 10.2 percent and 7.8 percent, respectively for 2013-14, but the detailed information can be found in Customs Notification No. 98/2013-Cus (NT).
 
The revised All Industry Rates of duty drawback have been notified by the Central Board of Excise and Customs, Ministry of Finance, on the recommendations of an expert committee headed by Saumitra Chaudhuri, Member of the Planning Commission and of the Prime Minister’s Economic Advisory Council.
 
Apart from the rate changes, to assist exporters, a large number of rationalization measures have also been undertaken to realign entries, provide rates on more items, better differentiate all industry rates for export products with higher duty incidence or to address classification issues on export products. 
 
With the revised rates, the Central Government will continue to support exporters with substantial total drawback. Moreover, for expeditiously addressing exporters concerns, the term of the Committee has been continued for another three months. 
 
Commenting on the hike in duty drawback rate, Apparel Export Promotion Council (AEPC) chairman A Sakthivel said it would give a boost to India’s overseas clothing shipments.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X