Exempt MMF from import duties – CITI

The Confederation of Indian Textile Industry (CITI) has placed its Pre-Budget Memorandum for 2011-2012 for the perusal of the Finance Minister of India, Mr Pranab Mukerjee.

CITI has recommended that it is important to exempt duties imposed on imports of man-made fibres (MMF) to help the textile sector source the raw material in large volumes at affordable prices.

CITI has pointed out that, globally MMF is the most dominantly consumed textile fibre and the ratio between man-made fibres and cotton fibre consumption is 60:40 globally while in India it is 41:59 (2009-10).

The recommendation adds that the share of man-made fibre based textile products in India’s export basket from the textile and clothing sector is even lower.

CITI has suggested that, optional excise duty for textile products may be continued at a uniform rate of four percent for all products, irrespective of the fibre content, along with which, excise duty on MMF should also be reduced to four percent.

It has further recommended withdrawal of all anti-dumping duties on MMF and not consider levying fresh anti-dumping duties to remove the anomalies in consumption pattern as well as help increase exports of MMF products from India.

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IITS to be held on Internet as of January 2011

Confederation of Indian Textile Industry (CITI) in association with BusinessGlobal.com is organising India International Textile Show (IITS 2011), a unique online international trade show showcasing outstanding companies from the entire Indian textile and clothing value chain.

Exhibitors in 5 halls will be showcasing their products and services to international and local customers.


The halls are earmarked for:
Yarn
Fabric
Garment
Home Furnishing
Textile Machinery

Accessories and input suppliers can also exhibit their products in each of the halls.

This virtual exhibition will start on 15th January 2011 and last up to 31st December 2011. Exhibitors may start to decorate their stalls and showcase their products in preview period of exhibition.

Preview for Exhibitors : 1st December 2010 to 14th January 2011
Exhibition Period : 15th January 2011 to 31st December 2011

The show is an opportunity for exhibitors and visitors alike to enjoy a wide-angle view of the worldwide clothing & textile market, to discuss new projects and joint ventures, and to explore new import and export opportunities. The virtual pavilions enable exhibitors to showcase new products and services, and to provide information to thousands of potential business partners worldwide, including clients, distributors, exporters, importers, manufacturers and suppliers.

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