Business Wire IndiaThe Government has announced the revised All Industry Rates of Duty Drawback vide Notification No. 131/2016-Customs (N.T.) dated 31.10.2016. Welcoming the Drawback rates, Shri R.K. Dalmia, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL) said, “The revised Drawback rates will certainly give a boost to exports of cotton textiles as they will provide adequate neutralization of the incidence of duties and taxes on the export goods and make them more competitive in the international markets.”
The Drawback rates and caps have been increased for Made ups both made of cotton as well as cotton blended with Manmade fibre. This is a step in the right direction as it will promote exports of value added products in line with the stated policy of the Government, according to Shri Dalmia.
The Drawback rates and caps for different types of Cotton yarns have, by & large been retained with no significant reductions. This has come as a major relief to the spinning sector which is currently under severe pressure due to various reasons, stated Shri Dalmia.
However, Shri Dalmia pointed out that there should have been some increase in the Drawback rates for fabrics as India is fast emerging as a manufacturing hub for these items. Government has also been keen to promote investments in the weaving sector, he pointed out. Further, un-rebated state levies should also be refunded through the Drawback route for yarns, fabrics and made ups as in the case of apparels, according to the Chairman, TEXPROCIL.
Shri R.K. Dalmia extended his thanks to the members of the Drawback Committee & its Chairman, Shri Saumitra Choudhuri for considering most of the suggestions made by TEXPROCIL including incorporation of a separate entry for “blankets made of cotton and manmade fibre”. 
Photo Caption: Mr. R.K. Dalmia - Chairman - TEXPROCIL​​
