Home / Knowledge / News / Textiles / TEA welcomes removal of duty drawback rate on cotton yarn

TEA welcomes removal of duty drawback rate on cotton yarn

03
May '10
Shri.A.Sakthivel, TEA President said that with all the measures taken so far, the cotton yarn prices may come down by Rs.15/- per Kg.

Shri.Sakthivel thanked the Hon'ble Union Minister of Textiles for his continuous efforts with various measures for reduction of the cotton yarn prices in the domestic market.

Shri.Sakthivel pointed out that in the amendments made in the Finance Bill 2010, yesterday, (29th April 2010) in order to meet any future demand, the Government has decided to increase the statutory export duty on Raw Cotton to Rs.10,000/- per Metric tonne, while maintaining the effective rate of Rs.2,500/- per Metric tonne at the current level. By this enhancement, the Government could increase the export duty on cotton yarn upto Rs.10,000/- per Metric Tonne whenever need arises.

Shri.Sakthivel said as the cotton rate has not drastically come down, it is a time to implement the export duty at Rs.10,000/- per Metric Tonne so that, there will not be any attractive for cotton export and the concerned measure will straight away help to reduce the cotton prices immediately.

Shri.Sakthivel requested Thriu.Dayanidh Maran, Hon'ble Union Minister of Textiles to take up this issue and help to implement immediately which will ultimately trigger for the reduction of cotton yarn prices.

Tirupur Exporters' Association


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 1st Apr 2020

Indian ministry asks over 10 manufacturers to produce PPE

The Indian health ministry has asked over 10 domestic manufacturers...

Pic: Shutterstock

Apparel/Garments | On 1st Apr 2020

Five more brands not to cancel export orders to Bangladesh

Five more global fashion brands-three European and two North...

Pic: Venturelli Luca / Shutterstock.com

Retail | On 1st Apr 2020

H&M to take goods already manufactured, assures suppliers

Swedish retail giant H&M recently assured its garment suppliers of...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Vasudevan LK,

Vasudevan LK

Epson is a world leader in digital imaging and printing solutions....

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


March 2020

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


Advanced Search