Sunil Khandelwal, chief financial officer, Alok Industries speaking to CNBC-TV18 about new duty drawback plan announced for exporters said, "We are yet to get details product wise but prima facie there is marginal reduction in the rates but that should not be of much significance."
As per this plan, the new duty drawback scheme will cover 1,100 items under the Duty Entitlement Pass Book (DEPB) program, which expires on September 30. The duty drawback rate is kept at 5.5%. "We should be able to pass it on to the buyers, " Khandelwal added.Alok Industries majorly exports bedsheets, polyester yarn and fabric, 35% of their sales come from exports. Below is the edited transcript of Khandelwal
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