TEA says policy should have included readymade garments

Tirupur, Apr 19 (UNI) Tirupur Exporters Association (TEA) President Sakthivel today welcomed the Annual Supplement to Foreign Trade Policy 2004-09 announced by Union Minister for Commerce and Industry Kamal Nath especially exemption of Service Tax on exports even as lamented the non-inclusion of readymade garments under the special focus product scheme.

In a press release here, Mr Sakthivel said the readymade provided employment opportunities especially for rural women and was disappointed at its non-inclusion in the special focus product scheme.

Mr Sakthivel also sought exemption from fringe tax benefits (FBT) for exports similar to the Service Tax sop.

He said reimbursement of cost of duty on fuel and special additional duty under DEPB scheme was also a welcome measure in the Annual Supplement 2007.

He further said removal of block-wise fulfillment of export obligation under EPCG Scheme would help exporters tide over export distortions and currency fluctuations.

Mr Sakthivel said the verification of documents on random basis under EPCG Scheme would help reduce the transaction cost.

UNI