INDIA: Silk Exporters Want To Stop Credit Recovery Proceedings
Indian silk exporters have told the government that they should not be asked to repay export credit which was granted under the Duty Entitlement Passbook Scheme (DEPB). The exporters said they had already made losses due to the absence of the facility, with prices having to be increased and up to 50 per cent of orders being lost as a result. Overall, the move has resulted in India losing market to other competitors, such as China.
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