Tirupur Exporters’ Association (TEA) has thanked Indian Government for restoration of Duty Drawback Rates for babies wear, from 7.3 per cent to 7.6 per cent, effective from January 15, 2017.
The Duty Drawback Rates for babies wear was reduced from 7.6 per cent to 7.3 per cent and the value cap was also slashed from Rs. 34 to Rs.29 while announcing the new Drawback Rates on October 31, 2016.
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“The restoration of rates for babies garments would increase the competitiveness when the knitwear exporters are operating under wafer thin margin to sustain in the global market,” said Raja M Shanmugham, President, TEA.
