Home / Knowledge / News / Textiles / SIMA seeks reduction in MMF levies in Budget
SIMA seeks reduction in MMF levies in Budget
26
Feb '16
The Southern India Mills' Association (SIMA) is hoping that the Union Budget will slash levies on man-made fibres (MMF) to boost the textile industry.

In a press release, SIMA Chairman M Senthilkumar said he hoped that the Union Government would consider long pending demand of the textile industry to remove the 5 per cent import duty, 4 per cent special additional duty and anti-dumping duty and also reduce the central excise duty from 12.5 per cent to 6 per cent levied on MMF. These duties push up the price of MMF and filaments by 23 to 30 per cent, he said.

SIMA has also requested the government to continue the optional Cenvat route for cotton textiles (zero or 6 per cent) which was introduced way back in 2004 due to break in the excise net across the textile value chain. Senthilkumar said that the Union Government is likely to implement GST in a short duration and therefore, it is essential to continue the optional Cenvat and thus prevent hardship for the ailing spinning sector due to steep fall in yarn exports.

Senthilkumar said he also hoped that the Union Budget would allocate adequate funds to clear the backlog in TUF subsidy which is pending since September 2014.

He said the Indian textiles and clothing sector has the potential to become a $350 billion industry from its current level of $110 billion and also create new jobs for 35 million people by 2023 if a level playing field is created in the 2016-17 Union Budget. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sanjukta Dutta
Sanjukta's Studio

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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