“Donot extend fruits of TUFs to imported second-hand machinery” – Mr Panchal

“The fruits of the very successful Textile Up-gradation Fund scheme (TUFs) should not be extended to those importing second-hand machinery”, echoed, Mr Jayendra Panchal, Director of the 98 years-old Ahmedabad-based textile machinery manufacturer – Shakti Auto Loom Manufacturing Pvt Ltd.

Mr Panchal was reacting to the recent announcement made by the Textile Commissioner; Mr Joshi with regards to the soon to be announced refurbished TUFs.

Speaking exclusively to Fibre2fashion, Mr Panchal said, “Weavers across India have been importing second-hand weaving machinery under TUFs. This comes at a very heavy cost to the Indian textile machinery manufacturers as customs duty on imported textile machinery is lower than excise duty paid by Indian textile machinery producers”.

“Instead the government should promote the local textile machinery manufacturers, or otherwise TUFs benefit should be reduced for those importing second machinery”, he noted.

“I am willing to make major investments to produce high-technology weaving machinery, but considering that 95 percent of the weaving machinery imported under TUFs is second-hand, I am very apprehensive about starting the project”, he informed.

“Under the circumstances, I am appealing to the government to not extend the fruits of the very successful TUFs to those importing second-hand machinery, or create a level playing field”, he pleaded to the union government and the textiles ministry.

Original Source: “Donot extend fruits of TUFs to imported second-hand machinery” – Mr Panchal @ Fibre2fashion

Social Trading - WEB 2.0 for the Food-Processing and Packaging Industry

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We want to make all paco-paco - Services available to all stakeholder of the Food and Packaging Industry. Including all Industry Experts, but also everybody interested in the Food Processing Industry. PACO-PACO wants to offer an industry-specific trading and communication plattform, where experts can meet and discuss industry-specific topics. Experts will have a forum to establish business contacts. Companies of the Food Industry will have the opportunity to market their services and products. In turn every user will have the benefit to get news and informations on the latest Trends, Technologies, Processes and a lot more.

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