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 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Lynda Kelly
Suominen Corporation

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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