Industry & Economy
-
Leather
Leather industry feels let down
Our Bureau
Chennai
,
March 1
THE leather industry had hoped for more from the Budget but is disappointed. Some of the sops announced on import of machines are welcome but do not represent major benefits, according to industry representatives.
Mr Rafeeque Ahmed, Chairman, Council for Leather Exports, said that the industry had been left feeling that the Budget had ``nothing much to offer.'' It was expecting abolition of countervailing duties and excise duties on a range of machinery and tanning products. The Finance Minister had not referred to the industry's requirements. This was a bit of a disappointment, he said.
The industry has welcomed the reduction in import duties on seven types of machinery, but this does not represent a significant impact, according to him.
According to industry sources, leather product manufacturers had been hoping for removal of countervailing duties on import of a wide range of machinery. Most of these were not available domestically. Till two years back, these were being imported at concessional rates but last year the Government chose to levy countervailing duty.
Mr Habib Hussain, Regional Chairman - South, Council for Leather Exports, said the Budget has not focussed on specific measures for this sector.
Mr T. Rafeeq Ahmed, Chairman, Indian Finished Leather Manufacturers and Exporters Association, said they had been hoping for a waiver of countervailing duty on tanning equipment but this had not happened.
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
