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

Foreign brands competing with local clothing companies in Vietnam

Apparel/Garments | On 17th May 2021

Foreign brands competing with local clothing companies in Vietnam

International brands are giving tough competition to the local...

Pic: Casimiro PT / Shutterstock.com

E-commerce | On 17th May 2021

London-based global fashion platform Lyst raises £60mn

Lyst, a London-based global fashion aggregator that operates an...

Pic: Shutterstock

Textiles | On 17th May 2021

Prime Content| China cotton index may remain stable in coming months: TexPro

The China cotton is expected to remain above 16,000 RMB per ton or...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

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


May 2021

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


Advanced Search