Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Southern India Mills' Association demands level-playing field for domestic textile sector.


Date: 10-08-2015
Subject: Southern India Mills' Association demands level-playing field for domestic textile sector
NEW DELHI: Asserting that the domestic textile industry is facing recession for the last 15 months, Southern India Mills' Association (SIMA) has appealed to the Centre to take immediate steps to create a level-playing field for the sector.

"In the absence of a level-playing field due to higher rates of duties for Indian textile products in various major international markets, higher raw material cost, high cost of funding and high transaction cost, the industry is not in a position to achieve its potential growth rate.

"Under these circumstances, it is very essential for the central government to come out with a policy initiative to strengthen the competitiveness of the Indian textile industry," SIMA said.

The measures include making raw material of both cotton and synthetic fibres available at a slightly lower or on par with international price.

At a press meet yesterday, SIMA Chairman T Rajkumar also appealed for expediting free trade agreements (FTAs) with all the major textile importing countries particularly China and EU and make the tariff rate slightly lower or on par with other competing nations.

He requested the Centre to allocate Rs 6,500 crore to clear all pending cases and the existing committed liabilities of TUFS, and to announce National Textile Policy at the earliest. Rajkumar also pitched for early rollout of GST and requested the government to bring textile products under lowest rate of GST as the textile industry is low profit margin industry.

India has deferred talks on the proposed free trade agreement with EU after it's decision to ban around 700 generic drugs clinically tested by GVK Biosciences.

According to SIMA, measures like these, if taken, would enable the industry to achieve the growth rate of 25 per cent to 35 per cent in the short run and 20 per cent growth rate in the long run.

"This industry could achieve a business size of $500 billion by 2025 from the current level of $110 billion, if the right policies are in place," it said.

Rajkumar stated that Vietnam and Cambodia have zero duty access and Pakistan has zero duty access for fabrics and 5 per cent duty for garments and made-ups in China while the Indian yarn attracts 3.5 per cent duty, fabric attracts 8.5 per cent duty and made-up and garments attracts 14 per cent duty.

He stated that Pakistan, Bangladesh and Cambodia have zero duty access in EU and Bangladesh and Cambodia have zero duty access in US.

Rajkumar pointed out that the global recession had pushed the Indian textile industry to the corner and India had become the least preferred Nation in textile trade due to higher rates of duties.

The SIMA Chairman criticised the cotton trade policy of Cotton Corporation of India, which have been doing significant damages to the Indian textile industry particularly the SMEs, and favouring only the multinational cotton traders.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 28-02-2025
Notification No. 12/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 14-02-2025
Notification No. 10/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 13-02-2025
Notification No. 14/2025-Customs
Seeks to amend Notification 11/2021-Customs dated 01.02.2021 to amend AIDC rate on Bourbon whiskey

Date: 11-02-2025
NOTIFICATION No. 09/2025–Central Tax
Seeks to bring rules 2, 8, 24, 27, 32, 37, 38 of the CGST (Amendment) Rules, 2024 in to force

Date: 03-02-2025
[F. No. CBIC-190354/236/2021-TRU]
Corrigendum to Notification No. 50 of 2024 Customs, dated the 30th December, 2024.

Date: 01-02-2025
Notification No. 13/2025-Customs
Seeks to further amend notification No. 153/94-Customs dated the 13 th July, 1994.

Date: 01-02-2025
Notification No. 12/2025-Customs
Seeks to further amend notification No. 19/2019 dated 06 th July 2019.

Date: 01-02-2025
Notification No. 11/2025 – Customs
Seeks to further amend notification No. 25/2002-Customs, dated the 1st March, 2002 so as to add capital goods to the already existing list of capital goods exempted from basic customs duty for manufacture of lithium-ion battery of mobile phones and electrically operated vehicles.

Date: 01-02-2025
Notification No. 09/2025-Customs
Seeks to further amend notification No. 16/2017-Customs, dated the 20 th April, 2017 so to exempt certain drugs for supply under Patient Assistance Programme run by specified pharmaceutical companies.

Date: 01-02-2025
Notification No. 07/2025-Customs
Seeks to further amend notification No. 11/2018-Customs dated 02 th February, 2018 so as to exempt specified goods from the whole of levy of Social Welfare Surcharge.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001