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Tuesday, 07 September 2021 12:44

Surat textile traders worried over Rs 4,000 cr pending dues from Afghanistan

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Textile traders in Surat are worried as payments of about Rs 4,000 crore from Afghanistan are stuck due to Taliban takeover of the country. Champalal Bothra, General Secretary, Federation of Surat Textile Traders Association says, exporters are not sure when they will get their payments. The Federation of Indian Export Organisations (FIEO) has advised exporters and importers to wait and watch before taking any step.

India mainly exports Punjabi suits and dupattas manufactured in Surat to Afghanistan and Pakistan. Garments worth at least Rs 100 crore are exported every month to Afghanistan via Pakistan or Dubai. Raju Bhatia, a broker working for multiple exporters says, in the textile market, the credit period is up to three months and in goods supplied to Afghanistan via Pakistan or Dubai, the payment is received in three to four months.

However, due to the unrest, payment is several hundred crore of many exporters in stuck. The industry has furthered suffered because over Rs 100 crore worth of textile products exported monthly to Afghanistan has now stopped.