If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit India’s textile industry, according to the Federation of Indian Export Organizations (FIEO).
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
M Rafeeque Ahmed, FIEO President, said if any restriction is imposed on EPCG scheme, it would adversely impact the country’s textile industry, which imports used capital goods in bulk, and is already hit by the global economic slump.
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
Mr. Ahmed was commenting on the media reports that the Central Government was mulling on regulations to restrict imports of second-hand capital goods, and on withdrawing the benefits extended under the EPCG on import of used capital goods.
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
The FIEO President said that proper anti-dumping duty and protective duty mechanisms are already in place to reverse the adverse effect that bulk import of these commodities can have on the domestic industry.
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
Irrespective of the duty-rate applicable, the existing EPCG scheme allows a domestic producer to import second-hand capital goods, like machinery, tools and equipments, by paying only three percent customs duty.
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
Domestic capital goods industry players are for long seeking such regulatory measures. Meanwhile, the industry is also in favour of setting up a single port of entry for keeping a check on the age of used equipments being imported in the country.
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
The demand once again came to the forefront, following release of the IIP data, which indicated a sharp 27.9 percent fall in domestic production of capital goods during June this year.
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
Over the last few years, there has been a rise in imports of used capital goods, which as per the estimates, have risen from 2003-04’s US$ 6.5 billion to about US$ 40 billion at present.
If second-hand capital good imports under the Export Promotion of Capital Goods (EPCG) scheme are subjected to any restrictions, it would badly hit #
Fibre2fashion News Desk - India