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THE continuation of the export promotional schemes such as DEPB, advance licence scheme, EPCG in the new long term Exim policy unveiled on Sunday has cheered up the textile industry as both the organised and decentralised textile sectors remained apprehensive on the existence of these schemes beyond 2002.
Where the new long term Exim policy pepped up the industry's spirits is the permission accorded to import duty-free fuel for exporting units to the extent of 3 to 7 per cent of f.o.b value of exports.
This, according to textile industry sources, should placate the high transaction costs incurred by the textile manufacturers who have been complaining of high-energy costs incurred by them making their export trade uncompetitive.
Though there seems to be no further dilution in DEPB rate in terms of value caps as the previous set value cap would continue, the lowering of import duties announced in the Budget is expected to result in lower draw-back rate for the textiles to that extent, it is said.
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