Commodity Online
NEW DELHI: Indian textiles industry has been demanding several concessions to counter the adverse impact of increasing rupee appreciation against US dollar.

Answering to a question in the Rajya Sabha, Minister of State for Textiles E.V.K.S. Elangovan said, the textiles industry has been demanding various concession including refund of State and local levies, higher rates of Duty Entitlement Pass Book (DEPB) and Duty Drawback, to manage the adverse situation due to the rupee’s appreciation against dollar.

However, the government has introduced several measures to provide relief to the affected exporters, which include increase in Duty Entitlement Pass Book and Duty Drawback rates, exemption from service tax on select services, reduction in interest rates of pre-shipment and post-shipment credit and faster clearance of arrears of terminal excise duties and Central Sales Tax, he said.

The Minister further informed that as per the latest available figures of World Trade Organization, India's share in world trade of textiles and clothing in 2006 was 4.3% and 3.3%, respectively. The details of India's exports of textiles and clothing in comparison to other major textiles exporting countries during the years 2005 and 2006 are given below:

Name of exporting countries	2005		2006		Variation (%)
	Textiles	Clothing	Textiles	Clothing	Textiles	Clothing
European Union (25)	69465	79126	71208	83415	2.51	5.42
China	41050	74163	48683	95388	18.59	28.62
Hong Kong	13830	27292	13910	28391	0.58	4.03
India	8462	9212	9330	10192	10.26	10.63
Republic of Korea	10391	2581	10110	2183	-2.70	-15.42
Turkey	7076	11833	7593	11882	7.31	0.41

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook