Polyester filament yarn is the main raw material of the decentralized powerloom sector. About 90% of the synthetic fabrics is manufactured by the decentralized powerloom sector. About 93% of Polyester fabrics is manufactured by the decentralized powerloom sector.
It is, therefore, necessary that the raw materials to this sector should be made available at international prices in order to meet the competition, internally as well as at the international level.
In order to make the raw materials cheaper, we suggest that the reduction in Customs duty on Polyester filament yarn should be 4% instead of 7.5% and Special CVD of 4% should be abolished as imported yarn has to bear 4% State VAT also. Moreover, the Excise duty should be reduced from 8% to 4% for which justifications are given below.
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In view of the above, we request that the Customs duty should be reduced from the proposed 7.5% to 4% and 4% Special CVD should be abolished and the Excise duty should be reduced from 8% to 4%.
We hope our request will be considered favourably.
Federation of Indian Art Silk Weaving Industry
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