Interviews
Expect up to 40% production cuts in textile sector - FICCI
10 Dec '08
4 min read
FICCI urges the Government to consider providing more relief to textiles sector by increased drawback rates and interest subvention at 4% (Government has provided 2% interest subvention in the recent package). Thirdly, the Government should also consider reducing the corporate tax rate immediately and also to restore income tax exemption for exports. Fourthly, another major demand of neutralizing the incidence of State levies for exports remain unaddressed.
State levies constitute 6% of the export price of manufactured item. Fifthly, transaction cost still constitutes 6% of the export value of manufactured good and needs to be rationalized. Sixthly, adequate power supply remains an issue of grave concern to the manufacturers. Seventhly, FICCI has urged the Government to pump in more money for infrastructure sector as the growth of many manufacturing sectors is directly dependent on the growth of infrastructure in the country.
State levies constitute 6% of the export price of manufactured item. Fifthly, transaction cost still constitutes 6% of the export value of manufactured good and needs to be rationalized. Sixthly, adequate power supply remains an issue of grave concern to the manufacturers. Seventhly, FICCI has urged the Government to pump in more money for infrastructure sector as the growth of many manufacturing sectors is directly dependent on the growth of infrastructure in the country.
FICCI
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-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
