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Exporters need to be careful not to fritter away export drawback rebates – Experts
10 Feb '09
1 min read
The joy of the textile and garment industry knew no bounds on hearing the news of the government raising the rates of export draw back rebates from 14 to 15 percent. A sense of euphoria could be seen among the textile exporting fraternity.
According to an exporter, a one point increase in drawback rates means an equivalent rise in net profits of the exporting enterprise, if they were to ignore the pressure of pricing from their overseas buyers.
According to exports, export drawback rates which were increased by 1 percent each in August, November, December and now in February are undoubtedly the best news the industry has received subject.
They have advised the exporters from the industry not to fritter away and succumb to pricing pressures from their overseas clients and pass on the benefits of the latest increase in duty drawback rates while quoting prices.
According to an exporter, a one point increase in drawback rates means an equivalent rise in net profits of the exporting enterprise, if they were to ignore the pressure of pricing from their overseas buyers.
According to exports, export drawback rates which were increased by 1 percent each in August, November, December and now in February are undoubtedly the best news the industry has received subject.
They have advised the exporters from the industry not to fritter away and succumb to pricing pressures from their overseas clients and pass on the benefits of the latest increase in duty drawback rates while quoting prices.
Fibre2fashion News Desk - China
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