Mr Gupta also suggested second option of making Duty Draw Back Rates equal to DEPB Rates so that every one makes exports in DDBR scheme rather than DEPB. He looks upon DEPB as time consuming, and cumbersome involving unnecessary paperwork that is demanded in changed formats every now and then, thus creating fuss.
He also advocated certain efforts viz giving maximum incentive on growth of organic cotton fiber; allowing exports of cotton fiber only to farmers/ginners and not to trader/merchant exporter as this will control gamble and price increase; fixing polyester fiber prices on 3 month basis; discontinuing DEPB and instead promoting DDBR scheme to reduce paper work; working capital blockage due to delayed DDBR/DEPB focus and less exports; Government initiative in making minimum export prices so that no one can sell less than that; arranging subsidized customs free go down to keep stock of material and make more exports; fixing currency on monthly basis so that bank do not take lot of margins for forward booking of currency.
Reasoning the idea behind his above suggestions, he underlined waste of time and attention which causes management distracted from its focus on real operations and exports. He, at the end of talk, also suggested policy makers to augment numbers of textile fairs conducted in country and provide free stall to companies that are Star trading houses or embark over Rs 50 crores turnover.
Fibre2fashion - News Desk, India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
