DEPB Scheme Up To March ''05

DEPB scheme will continue up to March 31, 2005, said L Mansingh, director general of foreign trade (DGFT).

The difficulties faced by exporters in connection with verification of DEPB at customs has been taken up with the department of revenue and suitable guidelines will be issued shortly, he said at the interactive meeting with members of Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) here.

The fact that the textile sector is increasingly facing problems on account of anti-dumping and countervailing measures in many importing countries indicates that the textile industry has consolidated its position in the international market. Referring to the post-quota regime in 2005, he said that Indian textile industry is capable of excelling in exports and must take advantage of the growing opportunities.

SRTEPC chairman Rakesh Mehra expressed concern at the appreciation of rupee, adversely affecting competitiveness of exporters. He also emphasised the need for more WTO-compatible schemes for effectively neutralising the various taxes in order to increase exports.