InquiryNow

Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at mi@fibre2fashion.com in case you need any other additional information.

Name

Company

Phone Number

Country

Comments

Advanced Search

Home / Knowledge / News / Apparel/Garments / Tirupur exporters seek changes in Foreign Trade Policy

Tirupur exporters seek changes in Foreign Trade Policy

24
Feb '07

CHENNAI:

Tirupur Exporters are seeking amendments and changes in Foreign Trade Policy (2004-09) to facilitate higher exports.

The company's knitwear exports are expected to reach Rs11,000 crore by end of March 2007.

Tirupur Exporters Association (TEA) President A Sakthivel has submitted a memorandum to Union Commerce Minister Kamal Nath requesting him to remove 2 percent education cess, and 4 percent countervailing duty on capital goods when amendments to long term trade policy is undertaken.

Garment exporters must be exempted from payment of fringe benefit tax on sales promotion expenses as the service tax of 12.24 percent has to be added to product value making it costlier and uncompetitive in global market, he adds.

Another major demand is to raise the duty drawback rate to 9 percent from the present 7 percent for cotton knitted garments.

Government is working out an alternative scheme in place of Duty Entitlement Passbook Scheme (DEPB) scheme, said President of TEA.

GET THE LATEST ON UNION BUDGET 2007-2008

More Tiruppur Exporters' Association News... More Apparel/Garments News - India...