;
Home / Knowledge / News / Textiles / Removal of NCCD from PFY not big help - Fairdeal Filaments
Removal of NCCD from PFY not big help - Fairdeal Filaments
29
Feb '08
Mr. Dhiraj Shah
Mr. Dhiraj Shah
After the conclusion of the budget speech, Fibre2fashion took the initiative to contact the textile industry biggies to get their side of the views.

Fairdeal Filaments Limited, CEO, Mr Dhiraj Shah, told us, “Machinery duty at present is 16 percent and has been reduced to 14 percent. We were expecting the same to be 8 percent. Secondly we anticipated excise duty on yarn to be brought down to 4 from the current 8 percent. Instead 1 percent NCCD has been removed, which was not as big a problem, in the first place.”

The head of Fairdeal Filaments added “Allocation of funds to TUF is very less and will not be able to cater to the industrial needs. Export of synthetic fabrics has gone down by 40 percent but, no solution has been put forth by the Finance Minister to solve the same.”

He acknowledged that high benefits allocated to the agriculture sector would directly or indirectly help the textile sector at large, and income tax relief will prove to be beneficial to the middle class.

Fibre2fashion News Desk - India


Must ReadView All

USTR aims for more balanced trade in US-EU trade talks

Textiles | On 23rd Jan 2019

USTR aims for more balanced trade in US-EU trade talks

In negotiations for a trade agreement with the European Union (EU),...

Work on Quaid-e-Azam Apparel Park in Pak to be accelerated

Apparel/Garments | On 23rd Jan 2019

Work on Quaid-e-Azam Apparel Park in Pak to be accelerated

A recent meeting of the Punjab Board of Investment and Trade presided ...

Retail break-up across top 7 Indian cities; Courtesy: Anarock Retail

Apparel/Garments | On 23rd Jan 2019

Indian retail is coming of age: Anarock Retail

From a mere 9 per cent share in 2017, the organised retail market in...

Interviews View All

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

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

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin, Chapurin

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

Leave your Comments


January 2019

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

news category


Related Categories:

Advanced Search