Chamber welcomes increase in DEPB rates
Indian Chamber of Commerce and Industry, Coimbatore, has welcomed the Central Government’s move to increase the Duty Entitlement Passbook Scheme rates with effect from April 1 this year for exporters.A release from the chamber said that the relief package, unveiled for exporters with special focus on sectors that had been affected the most by rupee appreciation would help generate more employment and sustain export growth.The three per cent increase in the rates for nine sectors would help these exporters approach the buyers with new offers.However, “the increase in the DEPB rates will not fully compensate the loss suffered by the exporters due to the appreciation of the rupee.”The reduction in the Export Credit Guarantee Corporation premium for exporters was also a great relief. The chamber expressed disappointment that the Government had not considered any service tax relief for the exporters.
