CBEC Move May Revive Wire Drawing Industry

New Delhi, June 26: | Updated: Jun 27 2003, 05:30am hrs
The decision of the Central Board of Excise and Customs (CBEC) to exempt wire drawing from gamut of manufacturing will help in reviving the wire drawing industry.

According to HL Bhardwaj, secretary-general of the Federation of Industries of India, 500 to 800 units would benefit from the noitification issued by the CBEC. The CBEC has issued the notification stating, drawing of wire from wire rod does not amount to manufacture for the purpose of Central Excise Act, 1944.