Home / Knowledge / News / Textiles / Dyestuff sector requires 8-10% excise duty cut - Paswan
Dyestuff sector requires 8-10% excise duty cut - Paswan
23
Jun '08
Addressing the 58th annual General Meeting (AGM) of The Dyestuffs Manufacturers' Association of India (DMAI), Union Minister for Chemical and Fertilizers and Steel, Ram Vilas Paswan stated that he will insist the Finance Ministry to reduce excise duty to 8-10 percent from the present 14 percent, so that the dyestuff industry may heave a sigh of relief.

According to the Union Minister, the imposition of anti-dumping duty is quite useless when there is no dumping; this is creating huge problems for the growth of this industry.

“Research and development is a big problem for us. We do not have constraints of money to invest in R&D but we have to overcome that to remain competitive,” Paswan said, during the meeting which held on June 21, in Mumbai.

Both India and China have a huge market potential for developing the chemical industry. The per capita dyestuff consumption in India is just 50 grams, which is one of the lowest in the world. However, plentiful scopes are available for the domestic market, for increasing consumption of dyestuffs.

"The 20 percent growth rate target for the dyestuff industry is good but our global share needs to be increased”, the Union Minister added.

The Indian dyestuff industry has a 10 percent share worth Rs150 billion in volume in global dyestuffs production. Exports are estimated to increase to Rs120 billion by the year 2010 from the present Rs100 billion.


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Eamonn Tighe
Nature Works LLC

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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:
June 2017

June 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