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Government to simplify levy structure for the textile sector
Our Commodities Bureau
Mumbai, March 26 : The government is keen to find measures to make the levy structure on the textile industry more simple. This was announced by the Union Textile Minister, Kashiram Rana at the export award function of the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) in Mumbai on Saturday. He was referring to the protests voiced by textile industry associations over the levy of 16 per cent excise on readymade garment and the 16 per cent ad valorem duty for the textile processing sector."There will be significant change in the budget proposal for the textile industry, on the basis of various representations made by different associations," he said. "Looking at the practical problems faced by the textile industry, particularly by the readymade garment and textile processing sectors, the government will simplify various levy in soon time," he added.Mr Rana expressed satisfaction regarding the rise of exports of synthetic and rayon textiles despite the recessionary global market. But he appealed to the textile industry to take advantage of the Technology Upgradation Fund (TUF), for the modernisation of the industry. He was surprised that industry did not come forward to take the advantage of the new technology. He noted that while more than Rs 10,000 crore were received by the nodal agencies and other banks, just Rs 1,893 crore has been disbursed since April 1, 1999. Speaking on the occasion SRTEPC chairman, Ganesh Gupta said: "There is a growing awareness about the strength of the Indian synthetic textile industry in the international front and India is increasingly being perceived as the preferred sourcing centre. The continuation of export assistance schemes have been of great help to the exporters in their efforts to improve exports. Industry needs assurance from the government that various export assistance schemes which are working well will not be disturbed unnecessarily in the near future." Indo Rama synthetic, Reliance Industries, Indian Rayon & Industries and Century Rayon bagged the top export awards. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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