India Textile Machinery Manufacturers Demand To Stop Importing Technology Subsidies

Is concerned about the import of unchecked second-hand textile machinery.

India

It is said that the India Planning Commission observes that no import of second-hand capital goods should be subsidized.

A delegation from the India Textile Machinery Manufacturers Association recently met with textile minister Ma Lan, who proposed to control the importation of unrestricted second-hand textile machinery.

The government should not be involved in technological degradation because technology changes every five years.

Such imports should not be included in the technology pformation fund plan.

In the 2008-09 fiscal year, India imported about 1354 second-hand looms.

In the 2011-12 fiscal year budget, the India textile machinery manufacturers association suggested that the distortion should be abolished in the consumption tax structure.

It is proposed to levy a uniform 8% consumption tax for all textile machinery.

The consumption tax on components and fittings should be less than 4%, so as to promote the development of localization.

At present, the tariff of India textile machinery is about 10%, and the tariff of some special machinery is 4%.

The duty of raw materials, accessories and accessories is 8%.

Similarly, in terms of mechanical imports, India has two tariff levels, 7.5% and 5%.

The India Textile Machinery Manufacturers Association recommends a unified tax rate of 7.5%.

In addition, the tax rate for raw materials, fittings and components should be lower than that of the whole machine.