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New Delhi, Jan 8: The Federation of Indian Micro and Small & Medium Enterprises (Fisme) has severely criticised the reduction in customs duty, saying that the entire capital goods sector will suffer.
In a press release, Fisme said that till now the user industries of steel, aluminium, copper and plastics were crying, as they were adversely affected by the inverted tariff — that is higher duty on raw materials and lower on capital goods. Now, the entire capital goods sector would suffer.
The Federation of Indian Export Organisations (Fieo) has welcomed the concessions.
According to The Federation of Indian Export Organisations president M Rafeeque Ahmed, “The pro-active way in which government is trying to facilitate the accelerated development of commerce and industry is most welcome, and is a harbinger to quick and qualitative progress of India as a nation.”
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