Apparel exporters have requested to announce Remission of Duties and Taxes on Exported Products (RoDTEP) rates expediently along with additional sops.
Raja M. Shanmugham, President, Tirupur Exporters Association (TEA), has urged the Central Government in this regard.
These additional sops as a percentage for a short term will help mainly to mitigate the ongoing crisis caused due to increase in cotton yarn prices and intermittent supply of yarn to apparel manufacturers.
He said that the announcement of RoDTEP rates with additional sops will help maintain the tranquillity in textile industry, enhance the competitiveness of garment exporting units and fulfil the mission Aatmanirbhar Bharat.
TEA representations have been sent to the Union Minister of Finance, Minister of Commerce and Industries, Union Minister of MSME and Union Minister of Textiles and Textiles Secretary.
“With the announcement of various financial measures and industry measures, Tirupur knitwear garment sector has revived and the exports have reached normal level as seen in the corresponding period of the previous year. We are hopeful that knitwear exports from Tirupur will clock Rs. 24,000 crores in the current financial year against Rs. 27,280 crores recorded in the previous year, 2019-20, with a negative growth of 12 per cent,” said Raja.
Source : https://in.apparelresources.com/