Home / Knowledge / News / Textiles / Machinery makers seek end of sops on second-hand imports
Machinery makers seek end of sops on second-hand imports
19
Oct '10
A demand to end fiscal sops on imported technology, particularly from China, has been made by the domestic machinery manufactures to the government in order to curb the unrestrained import of second hand textile machinery.

An expert cited that such an import of second-hand and low-priced Chinese looms is the biggest hurdle in country's textile growth. A pre-budget memorandum submitted recently to the government by Textile Machinery Manufacturers' Association (TMMA) says that according to the planning commission, no subsidy should be offered to import any second-hand machinery.

In this regard, the association has recommended the Textiles Minister, Mr. Dayanidhi Maran to restrict the import of second-hand textile machinery, and subsidy under the Technology Up-gradation Fund (TUF) scheme should not be offered to such imports. It also suggested the removal of distortions in the excise duty structure in 2011-12 Budgets.

In addition to this, TMMA made further suggestions, including uniform rate of eight percent excise duty on all items of textile machinery as well as imposition of less than four percent taxes on parts, components and accessories in order to encourage its domestic textile machinery.

The industry has been held back by decades-old technology, which is less efficient, consumes more electricity and requires high maintenance. In the year 2008-09, around 1354 second-hand looms have been imported in India.

Fibre2fashion News Desk-India

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

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

Eric Scholler
Groz-Beckert

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

Pranav Mishra
Huemn

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search