Surat: The central government will be deputing two members from the duty drawback committee to take stock of the situation of textile manufacturers for appropriate revision of the existing duty drawback rates on June 11.
The decision to depute the duty drawback committee to the city was taken following representation by Synthetic and Rayon Export Promotion Council (SRTEPC) chairman Narain Agarwal during his meeting with Union minister for textiles Smriti Irani in New Delhi on May 27.
Agarwal told TOI, “At present, the remission of state levies (RoSL) under the duty drawback scheme was allowed for garment and made-up sectors. After the representation, the minister has given approval for inclusion of yarns and fabrics in the ROSL scheme. This will provide substantial relief to the man-made fibre segment. During the meeting, she was also positive on upward revision in duty drawback rates along with ROSL. These initiatives are certainly going to give a big push to man-made fibre segment in the country.”
He said the minister positively considered review of accumulation of input tax credit (ITC) at various stages of textiles, including weaving, processing, embroidery and other value-added segments for enabling full refund. The refund of ITC will help make textile exports from the country more competitive.
About the central government scheme “Samarth” for capacity building in the textile sector, Agarwal said policy guidelines under the scheme were issued on April 23. The scheme is aimed at skill training for youths for gainful and sustainable employment in the textile sector. The ministry of textiles has now invited request for proposals (RPF) for empanelment of implementing agencies for undertaking the training programme.