In a press release, Mr. Vijay Agarwal, Chairman, AEPC, has expressed the anguish the industry by stating that the announcement of the Government on All Industry Duty Drawback Rates by just 1% is highly insufficient. The garment export industry was taken by surprise by the very small increase since the duty actually suffered by the exporters is around 16% of f.o.b. The apparel industry had expressed serious concerns on the unexpected and very fast erosion of competitiveness and profits which had been earlier projected appropriately before the Government and the media.
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