Textile industry welcomes revised duty drawback rates

The revised duty drawback rates will make cotton textiles more competitive in the international market, say industry stakeholders who welcomed the recent All Industry Rates (AIRs) notification.

RK Dalmia, Chairman of the Cotton Textiles Export Promotion Council said the revised drawback rates would boost export of cotton textiles as it would provide adequate neutralisation of duties and taxes on export of goods.

Stating that the increase in the drawback rates and caps for made-ups is a step in the right direction as it would help promote export of value-added products, he said, “There should have been some increase in the drawback rates for fabrics as India is fast emerging a manufacturing hub.”