Announce duty drawback rate soon, say garment exporters

Tirupur Exporters’ Association (TEA) Saturday appealed to Finance Minister Arun Jaitley to immediately announce the revised all-industry rate of duty drawback for the garments sector and help it overcome the crisis and enhance exports. The duty drawback rate was usually announced in September or October, but it was not this year and the government has been delaying the announcement since the rupee has depreciated, and that was affecting exports, president of the association Raja M Shanmugha said in a press statement here. 

The exports recorded Rs 26,056 crore against Rs. 29,210 crores during the corresponding period last year, a decline of 10.8 percent, the statement said. The exports from Tirupur for the same six-month period saw a decline from Rs 13,600 crore to Rs 12,100 crore, an 11 percent fall, it said. After the implementation of goods and services tax (GST) in the garments sector in October 2018, the exports have clocked a positive figure compared to the previous year, the statement said.

 

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