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Machinery producers demand favourable polices
05
Oct '10
The Chairman of Textile Machinery Manufacturers' Association (TMMA), Mr. Anuj Bhagwati stated that the government of India needs to make amendments in its fiscal policy, remove hurdles impeding the growth of textile engineering industry, and offer backing to improve technology production and exports of the industry in a bid to make the country a hub of textile machinery manufacturing.

The Chairman was addressing 50th Annual General Meeting of the Association, wherein he added that the industry needs significant support from the government to acquire competitive stance on the global platform.

Withdrawal of the import duty, levied on the dedicated components of textile machinery that are not manufactured indigenously and need to be imported, has also been demanded by the association from the government.

Moreover, it urged the government to rationalize the duties on importing all textile machinery items. Also, he asked the government to draw schemes to modernize textile engineering industry, technology up-gradation and productivity advancement.

Fibre2fashion News Desk - India


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