Home / Knowledge / News / Textiles / 'Exclude spinning sector from purview of TUFs' - SIMA
'Exclude spinning sector from purview of TUFs' - SIMA
01
Mar '12
Amongst its main demands, the Southern India Mills Association (SIMA) has suggested exclusion of the spinning sector from the purview of TUF Scheme, considering the under utilization of existing spinning capacity and mismatch in the supply-demand.

It has also requested removal of 5% customs duty and 4% special additional duty and reduce the 10% central excise duty on manmade fibre to 4% with optional route on par with cotton textiles in its pre-budget recommendations put up before the Finance Ministry.

SIMA has also requested the Ministry to extend the restructured TUFs for the entire 12th five year plan period. It also asked that the Ministry to provide benefits for the black out period between June 29, 2010 and April 27, 2011, when the TUF was suspended and suggested that this period could be considered in the old format.

In the new TUFs, only shuttle-less looms have been given 10% capital subsidy. However, since the main weakness in weaving sector stems from lack of investment in modern weaving preparatory machines, it has suggested that capital subsidy be extended to weaving preparatory machines also.

It has suggested that manufacturer and exporters of yarn be permitted to fulfill the export obligation fixed under EPCG scheme by exporting fabric and garment as well (value added products) which would encourage vertical integration.

Since the export of cotton yarn had been banned during 2010-11, it has recommended that spinning mills should be exempted from the obligation and average to be fulfilled for the financial year 2010-11.

Among other demands, it has demanded that the excise duty on automatic looms and projectile shuttle-less looms should be withdrawn to encourage technology up-gradation in this sector.

SIMA has also sought exemption from mandatory cost audit for textile mills, since the details sought during the audit is available in the documents filed under the Companies Act.

Fibre2fashion News Desk - India


Must ReadView All

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

Trade & consumers want MDR free digital payments: CAIT

Apparel/Garments | On 12th Dec 2017

Trade & consumers want MDR free digital payments: CAIT

Transaction charges like the merchant discount rate (MDR) applicable...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search