With India’s textile exports continuing to decline this year, the Southern India Mills Association (SIMA) has approached corporate advisor S Gurumurthy to lobby their case to improve the health of the textile industry.
SIMA chairman, M Senthilkumar said the 12-nation Trans Pacific Partnership (TPP) can potentially dent Indian textile exports further because of duties ranging between 14 and 32 per cent while competitor and TPP member Vietnam would have zero duty access in TPP countries.
At a meeting between Gurumurthy and 20 textile associations, Senthilkumar requested him to impress upon the centre to release adequate funds to clear all the pending TUF subsidies to sustain Rs. one lakh crore investments already made.
SIMA also pitched for three per cent interest subvention for all textile products till the country achieves the envisaged growth rate in exports and has also asked for suitable market specific incentives under MEIS till the FTAs are concluded.
The SIMA chief also requested Gurumurthy to pursue the government to remove five per cent import duty, four per cent special additional duty, anti-dumping duty and reduce central excise duty from 12.5 per cent to six per cent to make MMF available at international price.
SIMA also reiterated its demand that the government make the Cotton Corporation of India (CCI) adopt industry-friendly trading policy. Senthilkumar also urged Gurumurthy to persuade the government to announce stable and win-win strategy policies including the Textile Policy and implement the GST.
