The increase of duty drawback rate by 3 percent along with a reduction of interest rates of pre and post shipment credit boosted the morale of garment exporters in the Country.
With a sigh of relief, the industry can now achieve the target of US $160 billion for the year as well as recuperate its losses.
According to official sources of Clothing Manufacturers Association of India (CMAI), the release of Rs 600 crore would remove the surfeit of excise duty while CST on exports will add to the flow of revenue for traders. Now overseas rates can be cited at new prices, leading to better competition
With a sigh of relief, the industry can now achieve the target of US $160 billion for the year as well as recuperate its losses.
According to official sources of Clothing Manufacturers Association of India (CMAI), the release of Rs 600 crore would remove the surfeit of excise duty while CST on exports will add to the flow of revenue for traders. Now overseas rates can be cited at new prices, leading to better competition
