The Hindu : DEPB facility extended to jute products

Online edition of India's National Newspaper
Friday, Jul 12, 2002

Business

Business

DEPB facility extended to jute products

By Our Special Correspondent

NEW DELHI JULY 11. As part of a comprehensive package for the promotion of jute exports, the Director General of Foreign Trade has, for the first time, extended the DEPB (Duty Entitlement Pass Book) facility for jute products also.

The DEPB rate would be 2 per cent for jute soil saver and yarn and twine, and 6 per cent for hessian cloth, hessian made up and sacking cloth and sacking made ups.

The move follows a request made by the Textile Ministry to the Commerce Ministry in a bid to give a thrust to the jute industry, which had by and large remained neglected over the decades.

Welcoming the announcement, the Union Textiles Minister, Kashiram Rana, hoped that the jute industry would now be able to compete more vigorously in the international market.

Meanwhile, recognising India's increasing importance in global jute trade, the International Jute Study Group, which was set up last year as a replacement for the International Jute Organisation, has selected T. Nandakumar, Joint Secretary in the Textiles Ministry, to be its Secretary General for the next three years.

Mr. Nandakumar, who had been in charge of issues relating to jute and NTC mills in the Ministry, would take up his new assignment by the end of this month. He would be stationed in Dhaka, the headquarters of the Study Group.

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