India Machinery Manufacturers Call On Government To Abolish Preferential Policies For Second-Hand Imported Machinery

India Machine manufacturer Appeals to the government to end the preferential financial measures for import technology, especially from China. Import technology In order to curb the importation of uncontrolled second-hand textile machinery.

An expert pointed out that the import of second-hand and low price Chinese looms is the biggest obstacle to the growth of India textile industry. Recently, the Textile Machinery Manufacturers Association (TMMA) submitted a pre budget memorandum saying that the plan committee said that no second-hand machinery should be subsidized.

In this regard, the association has proposed the restriction of Mr. Marang, Minister of textiles. Second hand textile The import of machinery and financial subsidies under the technology renewal fund scheme should not be provided to such imported machines. They also suggested that the distortions of the consumption tax structure of the 2011-12 budget should be abolished.

In addition, the textile machinery manufacturers association also suggested that the consumption tax for all products of textile machinery should be 8%. At the same time, less than 4% of the tax on parts, components and fittings should be levied to encourage the development of the domestic textile machinery industry.

India textile machinery industry has been trapped in decades of old technology, with low efficiency, high power consumption and frequent maintenance. In 2008-09, China imported about 1354 second-hand looms in India.