Home / Knowledge / News / Textiles / Pre-Budget Proposals 2011-12 from ITAMMA
Pre-Budget Proposals 2011-12 from ITAMMA
15
Feb '11
Indian Textile Accessories & Machinery Manufacturers' Association (ITAMMA) submits Pre-Budget Memorandum for 2011-12.

FISCAL REFORMS

I) EXCISE DUTY

• Excise duty on all items of textile machinery at 8%, there should be no exemption
• Excise duty on all parts, components and accessories of the textile machinery should be less than complete machinery i.e. at the level of 4%.

II) CUSTOMS DUTY :

• Floor level of customs duty on capital goods should be at 7.5%.
• The rate of duty on raw-materials, parts, components & accessories should be less than that on complete machinery, in general, at least to 5%.
• Reduce import duty on dedicated parts, components and accessories of shuttleless looms & other hi-tech machines which are not made in India so far, from 5% to zero duty.

III) POLICY MATTERS :

• Uniform treatment to the domestic suppliers of machinery to EPCG licence holders and 100% EOU as both are Deemed Export.
• Imported second-hand textile machinery should not be given subsidy under the Technology Upgradation Fund Scheme and its derivatives namely 20% CLCS and 15% CLCS Scheme, in the name of modernisation
• Ban on import of second-hand shuttleless looms with weft insertion rate less than 750 mtrs. per minute.
• Tax break for a period 5 years for any unit manufacturing hi-tech item of textile machinery with or without foreign collaboration.

IV) SCHEMES :

• Scheme for modernisation, technology upgradation and productivity advancement of the Textile Engineering Industry (TEI)
• Schemes to support with 100% Grant-in-aid for Research & Development in the Textile Engineering Industry.
• Schemes to support setting up of CFCs and one Cluster Park in Surat, Ahmedbad and Coimbatore and one CFC at Kolkata for Manufacture of Jute machinery with 75% financial aid for the TEI as there is need for development and manufacture hi-tech machinery in weaving, processing and technical textiles/jute sector.

The Indian Textile Accessories & Machinery Manufacturers' Association [Formerly: Association of Merchants & Manufacturers of Textile Stores & Machinery (India)] was established in the year 1943. It was then a body representing importers of textile machinery and mill stores as there was no manufacture of these items at that time.

Indian Textile Accessories & Machinery Manufacturers' Association (ITAMMA)


Must ReadView All

Bangladesh panel to revise minimum wage for garment workers

Apparel/Garments | On 16th Jan 2018

Bangladesh panel to revise minimum wage for garment workers

The Bangladesh labour and employment ministry recently formed a panel ...

Bruckner to supply dry finishing lines for textile project

Textiles | On 16th Jan 2018

Bruckner to supply dry finishing lines for textile project

Bruckner, a producer of high-tech lines for the dry finishing of...

Courtesy: Carrefour

Apparel/Garments | On 16th Jan 2018

Carrefour signs strategic agreement with Showroomprive

Carrefour, the second largest retail chain in the world, has...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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