Interviews
Trade bodies welcome increase in input duty reimbursement
31 Jul '09
4 min read
Mr Ajay Sahai, Director General, Federation of Indian Export Organisation (FIEO) had this to say. “There are two reasons for increase in draw back rates for textile products; Excise duty on manmade fibre has been increased from 4 percent to 8 percent which will translate into higher drawback rates particularly where Cenvat is not available”.
“Another reason is our competitors countries like Pakistan, Bangladesh, Sri Lanka, Vietnam & Turkey, have offered additional benefit to textile exporting units which is helping them to offer most competitive price resulting in, out pricing Indian textile products, due to which we have to match their offer by focusing on increased drawback rates”, he added by saying.
“Another reason is our competitors countries like Pakistan, Bangladesh, Sri Lanka, Vietnam & Turkey, have offered additional benefit to textile exporting units which is helping them to offer most competitive price resulting in, out pricing Indian textile products, due to which we have to match their offer by focusing on increased drawback rates”, he added by saying.
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