Home / Knowledge / News / Textiles / SGCCI seeks uniform tax policy for textile industry
SGCCI seeks uniform tax policy for textile industry
Aug '09
In order to enable the decentralized synthetic textile industry in Surat to grow, the Surat Gujarat Chamber of Commerce and Industry (SGCCI) urged the Union Textile Minister Mr. Dayanidhi Maran to implement uniform tax policies. In this regard, a delegation of SGCCI, led by its President Mr. Nilesh Mandlewala met Mr. Maran in New Delhi.

The delegation asked the Minister to increase a slew of refunds such as increasing capital subsidy in Textile Up-gradation Fund (TUF) scheme from 15 percent to 20 percent, excise duty reduction on textile machinery and revision of 8 percent of excise duty on the synthetic fibre and filament yarn.

These demands are the part of SGCCI's proposed multi-pronged strategy framed to boost the growth of largest synthetic textile hub of the country that meets about 40 percent demand, of synthetic fabrics in the country. Mr. Mandlewala said that the proposed rise in excise duty on synthetic fiber and filament yarn will increase the raw material prices.

The 4 to 8 percent increase in excise duty on synthetic fibre will make the synthetic saree consumers, across the country, to experience the financial pinch. Thus, SGCCI has demanded that the textile minister extend the slew of rebates, so that the synthetic textile industry in Surat can sustain in domestic and international markets.

The SGCCI delegation also met the Minister of Micro, Small and Medium Enterprises (MSME), Mr. Dinsha Patel to request him to widen the audit limit of the MSMEs from Rs. 40 lakh to Rs. 1 crore and to provide bank loans on low interest rates by making special provisions.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Awen Delaval

'Natural fibres are appreciated for traditional authenticity'

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sanjukta Dutta
Sanjukta's Studio

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

Pranav Mishra

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

March 2017

March 2017

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


Browse Our Archives


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