Home / Knowledge / News / Textiles / Removal of NCCD from PFY not big help - Fairdeal Filaments
Removal of NCCD from PFY not big help - Fairdeal Filaments
29
Feb '08
Mr. Dhiraj Shah
Mr. Dhiraj Shah
After the conclusion of the budget speech, Fibre2fashion took the initiative to contact the textile industry biggies to get their side of the views.

Fairdeal Filaments Limited, CEO, Mr Dhiraj Shah, told us, “Machinery duty at present is 16 percent and has been reduced to 14 percent. We were expecting the same to be 8 percent. Secondly we anticipated excise duty on yarn to be brought down to 4 from the current 8 percent. Instead 1 percent NCCD has been removed, which was not as big a problem, in the first place.”

The head of Fairdeal Filaments added “Allocation of funds to TUF is very less and will not be able to cater to the industrial needs. Export of synthetic fabrics has gone down by 40 percent but, no solution has been put forth by the Finance Minister to solve the same.”

He acknowledged that high benefits allocated to the agriculture sector would directly or indirectly help the textile sector at large, and income tax relief will prove to be beneficial to the middle class.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search