Home / Knowledge / News / Textiles / New duty drawback rates to boost cotton textiles exports

New duty drawback rates to boost cotton textiles exports

12
Dec '18
New duty drawback rates to boost cotton textiles exports
Welcoming the new duty drawback rates, the Cotton Textiles Export Promotion Council (TEXPROCIL) said the revision will boost the exports of cotton textiles. The government of India has increased the duty for cotton yarn from 1.2 per cent to 1.7 per cent, from 1.3 per cent to 1.6 per cent for cotton fabric and from 2 per cent to 2.6 per cent for made-ups.

"The revised drawback rates will lead to increase in the exports of cotton textiles. There is a significant increase in the drawback rates for cotton made ups which will encourage export of value-added products like home textiles," said TEXPROCIL chairman Dr KV Srinivasan while extending his gratitude Smriti Zubin Irani, Union textiles minister, for her support in getting the drawback rates increased.

The removal of drawback caps in the case of those export products where the drawback rates are less than 2 per cent will benefit the cotton textiles exporters, he added.

Further, Srinivasan has also urged the government to increase the MEIS rate for fabrics from 2 per cent to 4 per cent and also to cover cotton yarn under the MIES and 3 per cent Interest Equalization Scheme so that exports of cotton textiles can achieve its true potential. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Nov 2020

3 Bangla RMG firms present energy efficiency action plans

Small energy efficiency working groups (SEEWGs) of three top tier...

Pic: Shutterstock

Textiles | On 28th Nov 2020

Pak PM asks ministries to help textile sector meet demand

Pakistani Prime Minister Imran Khan recently directed the commerce...

Pic: Shutterstock

Apparel/Garments | On 28th Nov 2020

Rwanda's garment-textile exports grow by 83% in 2 years

Rwanda's textile and garment sector grew 83 per cent in value between ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

There's lot more potential in women than what we are witnessing today

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Arvind Saraf, Triveni Sarees

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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

Leave your Comments


November 2020

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


Advanced Search