SIMA Chief has also thanked the Union Finance Minister for extending the optional route under Central Excise for various textile products from fibre to finished goods. He has stated that this is essential till GST is introduced to maintain a level playing field across the value chain.
He has specifically thanked the Minister for bringing the branded garments and made ups under optional route which were levied 10% central excise duty during 2010-11 and increased to 12% during 2012-13 budgets and seriously affected the domestic business particularly after signing free trade agreements with Bangladesh allowing duty free access for garments. Mr. Dinakaran has stated that this step will greatly help the domestic industry to regain its competitiveness.
Mr. S. Dinakaran has stated that the reduction of customs duty on all textile machinery & parts thereof from 7.5% to 5% would give a competitive edge to the textile industry for modernization and would enable the industry to go in for state-of-the-art technology and remain globally competitive. SIMA Chairman has appreciated the efforts taken by the UPA government for developing various industrial corridors and infrastructure facilities to reduce the transportation cost and transaction cost.
Announcement of two new major ports in West Bengal and Andhra Pradesh, a fast growing States in textile manufacturing activities and expansion of Tuticorin port capacity by 42 million tonnes would greatly help the textile industry in Tamil Nadu to improve its business and exports substantially.
SIMA Chief has also hailed the reintroduction of generation based incentives for the wind energy projects and allocating Rs.800 crores to the Ministry of Non-Renewable Energy which would greatly help the States having wind mills, particularly Tamil Nadu which accounts for more than 45% of the wind generation capacity to improve their competitiveness on power front.
The allocation of Rs.1000 crores for National Skill Development Corporation (NSDC) for skill up gradation would enable the industry to improve its competitiveness. SIMA Chief has stated that the textile industry is one of the major beneficiaries under the sector skill development of the NSDC programme.
Southern India Mills' Association (Sima)
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