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SIMA approaches S Gurumurthy to lobby their case
27
Oct '15
With India's textile exports continuing to decline this year, the Southern India Mills Association has approached commentator and corporate advisor S Gurumurthy to lobby their case to improve the health of the textile industry, it said in a press release.

SIMA Chairman M Senthilkumar said the 12-nation Trans Pacific Partnership (TPP) can potentially dent Indian textile exports further because of duties ranging between 14 to 32 per cent in while competitor and TPP member Vietnam would have zero duty access in TPP countries.

At a meeting between Gurumurthy and 20 textile associations, Senthilkumar requested him to impress upon the Central Government to release adequate funds to clear all the pending TUF subsidies to sustain Rs 1 lakh crores investments already made.

SIMA also pitched for 3 per cent interest subvention for all textile products till the country achieves the envisaged growth rate in exports and has also asked for suitable market specific incentives under MEIS till the FTAs are concluded.

The SIMA chief also asked Gurumurthy to ask the government to remove 5 per cent import duty, 4 per cent special additional duty, anti-dumping duty and reduce central excise duty from 12.5 per cent to 6 per cent to make MMF available at international price.

SIMA also reiterated its demand that the government make the Cotton Corporation of India (CCI) adopt industry-friendly trading policy.

Senthilkumar also asked Gurumurthy to persuade the government to announce stable and win-win strategy policies including the Textile Policy and implement the GST.

Gurumurthy appreciated textile industry's efforts to sensitize the government through him, but advised the industry to come up with a proposal which is good for the nation, industry and society at large.

He also advised the industry to come out with more facts and figures and analytical report underlying the condition of the industry and its demands. (SH)

Fibre2Fashion News Desk – India


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