<p>The demand comes after the Central Board of Excise and Customs in the Finance Ministry slashed duty drawback rates on several items, including textiles, metal items, leather and sports goods.<br /><br />The Federation of Indian Export Organisations (FIEO) in a communication to Finance Minister Pranab Mukherjee requested the government for two per cent increase in duty drawback.<br />"The world trade is again witnessing rough weather and the global growth rate is likely to decline in the second half of 2010," FIEO President A Sakthivel said.<br /><br />The reduction in rates has come as a "bolt out of the blue" for export sector particularly those which are still showing negative or single digit growth, he said.<br /><br />FIEO has also said the cut in rates would impact both exports and jobs in the country.<br />Although, the country's exports have risen by 28.6 per cent between April-August this fiscal, certain segments like garments, handicrafts, handloom and carpets, are yet to pick up from the setback received during the global downturn of 2008-09.</p>
<p>The demand comes after the Central Board of Excise and Customs in the Finance Ministry slashed duty drawback rates on several items, including textiles, metal items, leather and sports goods.<br /><br />The Federation of Indian Export Organisations (FIEO) in a communication to Finance Minister Pranab Mukherjee requested the government for two per cent increase in duty drawback.<br />"The world trade is again witnessing rough weather and the global growth rate is likely to decline in the second half of 2010," FIEO President A Sakthivel said.<br /><br />The reduction in rates has come as a "bolt out of the blue" for export sector particularly those which are still showing negative or single digit growth, he said.<br /><br />FIEO has also said the cut in rates would impact both exports and jobs in the country.<br />Although, the country's exports have risen by 28.6 per cent between April-August this fiscal, certain segments like garments, handicrafts, handloom and carpets, are yet to pick up from the setback received during the global downturn of 2008-09.</p>