Exporters welcome DGFT notification on DEPB

Tirupur Exporters’ Association (TEA) today welcomed the public notice by Director General of Foreign Trade on removal of 7.67 per cent DEPB benefit for export of cotton yarn, including Melange yarn with immediate effect.

In a press release, TEA president, A. Shaktivel said it was a welcome measure and expressed hope that cotton yarn prices would come down within a week, which was the need of hour for knitwear export sector.

The association has written to Union Minister for Textiles, Dayanidhi Maran, thanking him for his support and efforts to save the garment sector, which provide employment to lakhs of people.