Home / Knowledge / News / Textiles / Govt must hike duty drawbacks to make up our loss - FIASWI

Govt must hike duty drawbacks to make up our loss - FIASWI

18
Jun '07
Arun Jariwala, Chairman of Federation of Indian Art Silk Weaving Industry (FIASWI), Surat, told Fibre2fashion, small and medium sized garment and fabric exporters are the worst hit category.

He assured, “Federation has made the in small exporters aware of the necessity to cover their foreign exchange for every deal. To compensate the losses, we have also proposed to the Government that the traders are allowed to deposit their money in Dollar, that is Exchange Earners' Foreign Currency Account (EEFC). Dealers can then exchange it when the Rupee-Dollar rate is favorable.”

Another proposition is related to the Duty Entitlement Pass Book (DEPB). Jariwala explained, “We have suggested that the Government raise the duty drawback rates by 5-8 percent, so that our losses can be compensated. The Commerce Ministry has already sanctioned and positive decision from Finance Ministry is expected soon.”

Fibre2fashion, News Desk - India


Must ReadView All

Pic: UNCTAD

E-commerce | On 19th Sep 2021

Switzerland commits $4.4 mn for UNCTAD’s e-com, digital economy work

Switzerland recently announced a contribution of $4.4 million to the...

Pic: Shutterstock/humphery

Textiles | On 18th Sep 2021

China wants to join CPTPP; Japan to consult members to respond to bid

Chinese commerce minister Wang Wentao recently submitted an...

Pic: Shutterstock

Textiles | On 18th Sep 2021

Eurozone GDP recovers quicker than expected after lockdowns: EU report

The eurozone economy recovered more rapidly than considered earlier...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

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


September 2021

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


Advanced Search