The textile sector has welcomed the increase in drawback rates and value caps for several textile products, which will come into effect from November 23. Cotton Textiles and Export Promotion Council Chairman, R. K. Dalmia, has said in a press release that increase in the drawback rates for cotton made ups and garments would encourage export of value added products. However, some high value items such as ‘boiler suits’ and ‘protective wear’ made of cotton and manmade fibre blends have not been covered. According to the Southern India Mills’ Association (SIMA) Deputy Chairman P. Nataraj, increase in the rates for value added products will encourage the sector to focus on value addition. Indian Texpreneurs Federation has said that the importance given to manmade fibre based yarn and fabrics in the drawback revision will give a boost to value addition in man-mande fibre segment.

Source :thehindu.com