Financial Daily from THE HINDU group of publications
Sunday, Jan 02, 2005
Financial Daily from THE HINDU group of publications Sunday, Jan 02, 2005 |
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Industry & Economy
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Knitwear & Hosiery Knitwear exporters seek relook at DEPB rate cut G. Gurumurthy
Coimbatore , Jan. 1 THE cotton textiles sector is upset over the revised duty entitlement pass book (DEPB) rates announced by the Government for exports. The Tirupur Exporters Association, representing the predominantly cotton knitwear exporters in the region, has said the DEPB rates for a majority of cotton garments, such as blouses, shirts, track-suits, jeans, ladies' night-wear, skirts, sweat shirts, trousers and children's sweat shirts, have been brought down to 4.4% from the earlier 6.10 per cent. In the case of cotton T-shirts, the rate has been lowered from 6% to 3.60% and that for cotton track-suits has been reduced to 3.20% from 6.10 per cent. According to Mr A. Sakthivel, President of the association, the cut in the DEPB rate for cotton garments especially at a time when the apparel industry was faced with a quota-free regime from Saturday would not augur well. He wanted the Union Commerce Minister to have a re-look into the DEPB rates, restore the earlier rates and enable the garment exporters to fulfil their existing export contracts.
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