Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

SIMA wants government to expedite foreign trade policy

Southern India Mills’ Association (SIMA) has appealed to the Union government to take a quick call on foreign trade policy having textile and clothing -sector specific measures to help the segment explore opportunities. SIMA chairman T Rajkumar says with rupee’s fall against the Euro negatively affecting business, India is losing business opportunities to countries such as Pakistan, who enjoy duty free access to the European market. The industry body has appealed to the government to make benefits under the focus market incentives scheme to be competitive till the country enters into free trade agreement with the European Union countries, the US and China.

Further, it has demanded Rs 3,500 crores for the ongoing Technology Upgradation Fund scheme to meet liabilities of the last three quarters and for the next financial year and another Rs 3,000 crores for pending cases under the scheme. It has also asked for a reduction in excise duty on manmade fibres from 12 per cent to six per cent on par with cotton and removal of import duty and special additional duty. The industry also sought removal of six per cent excise duty on shuttleless looms.

The association further appealed for a reduction in cost of coastal shipping transport by 20 per cent to 30 per cent by providing exemption from fuel duties and sea fare taxes.

www.simamills.org

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo