Home / Knowledge / News / Textiles / Shri Saran appreciates abolition of NCCD on PFY
Shri Saran appreciates abolition of NCCD on PFY
Feb '08
While welcoming the increased allocation for the Textile Upgradation Fund Scheme (TUFS) in the Budget announced by the Union Finance Minister, Shri Sanjeev Saran, Chairman, Synthetic & Rayon Textiles Export Promotion Council expressed disappointment that the provisions made in it for the Textile Sector are insufficient.

He appreciated the abolition of the National Calamity Contingent Duty (NCCD) both Excise & Customs on Polyester Filament Yarn.

In respect of TUF, considering the large requirement of the industry, he expressed hope that the allocation made under the Scheme would be further enhanced during the year.

According to the Chairman, the special initiatives taken to develop more clusters for the Handloom Sector will definitely give further boost to this sector.

However, he felt that much more could have been done for the Textile Sector especially Man-made fibre Textiles Sector that is reeling under the impact of Rupee appreciation against the dollar.

He pointed out that the much awaited instrument for the refund of State Level Taxes has not found any place in the Budget Proposals.

Similarly, the exemption of Service Tax on some of the important export related expenses have also not been addressed which the exporters were eagerly awaiting. To help diversify textile exports the FBT on export related activities could have been done away with.

He pointed out that the industry is disappointed in not reducing the Excise & Customs Duties on Man-made fibre and Yarn, which was anticipated.

He observed that the Textile Sector, which is highly labour intensive, has not been given any special package for its revival and growth. Also the industry was expecting a moratorium of one year on repayment of loans taken by the Textile Sector.

The Synthetic and Rayon Textile Export Promotion Council (SRTEPC)

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search