After ban on trade of cattle for slaughter, Ministry to announce Rs 4000 cr package for the leather industry
Sheela Mamidenna With the Central government announcing curbs on cattle slaughter on May 26, the leather exports industry seems to be bracing itself for a rapid downward spiral. Though there seems to be a lot of misinterpretation on the latest notification, till the Government comes up with a plausible explanation, the Indian leather industry and its buyers are left frazzled. According to media reports, major international fashion houses have started enquiring from their suppliers whether they would be able to meet their commitments. Meanwhile, the Commerce and Industries Ministry has suggested a proposal to the Finance Ministry asking for a Rs 4,000-crore package, which includes both tax and non-tax benefits similar to the one announced for the textiles sector last year. According to officials ...
Increased duty drawback vital for exporters, says expert
Sai Nikesh | The Dollar Business Raising concerns over Indian government’s efforts to curb steel imports through increase of import duties and imposition of anti-dumping duties, the Engineering Export Promotion Council (EEPC) felt such moves would have a negative impact on engineering exports from India. Speaking to The Dollar Business, Anupam Shah, Chairman, Engineering Export Promotion Council (EEPC), India, said, “Government’s move to protect domestic steel industry through hikes in import duty and consistent efforts for anti-dumping measures should go hand-in-hand with commensurate increase in duty drawback to exporters.” Or else, the engineering exports this fiscal may fall well short of $71 billion in 2014-15, he noted. “With the domestic prices being influenced by such levies, the drawback rates should simultaneously go up,” ...
