The Indian Government’s decision to raise the duty drawback rates will boost textile and apparel exports, experts said
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Welcoming the new duty drawback rates, the Cotton Textiles Export Promotion Council (TEXPROCIL) said the revision will boost the exports of cotton textiles.
The Indian Government has marginally increased duty drawback rates for several textile items, applicable for the year 2018-19. However, there is a marginal decrease in the duty drawback rates of apparel items.
Under a special advance authorisation scheme, the Indian Government has introduced duty drawback of 3.2 per cent to 4.7 per cent (depending on the category) for exports of non-fabric inputs made from imported fabrics.
The Indian Government has notified certain changes in the All Industry Rates of Duty Drawback vide Circular No. 06/2016-Customs dated February 9, 2016. These changes are effective from February 11, 2016. New entries in the Drawback Schedule have been created for cotton yarns mixed with MMF – both grey and dyed.