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Indian textile sector seeks relief in Union Budget 2013-14
22
Feb '13
Indian textile and garment industry is seeking relief inUnion Budget and is expecting exemption of customs duty on man-made fibre, removal of levy of excise duty on readymade garments, allocation of more fund for Technology Upgradation Fund Scheme (TUFS), export incentives on textile and garment products as well as removal of customs and excise duties on all textile machineries.
 
Speaking to fibre2fashion, secretary of South India Garment Association (SIGA), Mr. Anurag Singhla said, “We expect the Finance Minister to remove the excise duty on branded garments as it is causing negative growth, slow down of economy, devaluation of stocks, under use of production capacities and reduced employment to common people.”
 
The levy of excise duty on labeled apparels was imposed and rolled back in 1972 and in 2001 due to its negative impact on garment industry, but it was reintroduced in February 2011.
 
Mr. Praveen Bafna, vice president of SIGA, explains, “Cheap import from Nepal, Thailand & bilateral treaty with Bangladesh for duty-free import of garments is causing a severe dent in the domestic industry. Big brands are already procuring the garments from Thailand, Nepal and also from Bangladesh, whereas some small and medium garment manufacturers have started visiting Bangladesh to explore opportunities to procure the garments at lower rates. Hence in the interest of domestic garment industry and to save jobs, the levy of excise duty must be re-considered with immediate effect.”
 
According to Mr. K Selvaraju, general secretary of Southern India Mills Association (SIMA), the Central Government should remove customs duty on chemical fibres. “We have demanded for removal of customs duty on man-made fibres.”
 
“We have also urged to reduce the central excise duty from existing 12 percent,” he adds.
 
Mr. Paritosh Agarwal, managing director of Suryalakshmi Cotton Mills Ltd, says, “Adequate fund should be allocated for TUFS so that the sanctioned projects could get financial assistance.”
 
“We have asked for exemption of customs and excise duties on all textile and garment machineries as well as to increase export incentives on garments,” he adds.
 
He further informs, “Interest subvention rates on exports of readymade garments should be increased and it should be introduced on yarn and fabric.”
 

Fibre2fashion News Desk - India


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