Govt Announces Concessions For Coir Exports

Kochi: The Centre has declared concessions to ease the impact of the increasing rupee on the coir sector. The eligibility of coir and coir products has been enhanced from 1 per cent to 3 per cent on FOB value under the Duty Entitlement Passbook Scheme from April 1, 2007. The increase will result in coir industry getting additional benefit to the tune of Rs18.15 crore against Rs 6.05 crore now. The Finance Ministry has also provided 2 per cent point subvention of pre-shipment credit up to 180 days and post shipment credit up to 90 days during April to December 2007.