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SIMA mulls customs free bonded warehouse at Mangalore port
14
Apr '15
Mills in Southern India hope to use the facilities provided by the Mangalore Port to import and store raw cotton for consumption by small and medium sized mills.

The congestion in various ports has prompted the Southern India Mills’ Association (SIMA) to explore the possibilities of utilising Mangalore Port which has got excellent warehousing facilities.

According to a SIMA press release, recently a meeting was held between office bearers of SIMA and the chairman of Mangalore Port Trust and other senior officials.

SIMA suggested that the port authorities extend facilities of a customs free bonded warehouse for cotton without attracting any tax/ levies as done in the Malaysian Port.

“A customs-free warehouse will enable traders to store the imported cotton and also return the unsold cotton to the original destination without additional cost,” SIMA chairman T Rajkumar said.

In the meeting, port officials assured to take all necessary steps to provide bonded warehouse after getting permission from Central Government.

According to Rajkumar, port handling charges, wharfage and demurrages are comparatively much lower in Mangalore Port. (AR)

Fibre2fashion News Desk - India

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