Industry & Economy
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Leather
Leather export body disappointed with Budget
Our Bureau
Kolkata
,
July 12
THE Council for Leather Exports (CLE), the leather industry's apex export promotion body, sponsored by the Union Commerce Ministry, is disappointed that many of its essential proposals were not considered in the Budget.
After the initial positive remarks on Mr P. Chidamabaram's Budget when the CLE said this Budget would enable exporters to take on Chinese competition better, there have been second thoughts. A closer reading of the notifications which became subsequently available, had forced the CLE into a huddle. The CLE Chairman, Mr S.S. Kumar, told Business Line that although the Union Budget provided some minor relief and concessions, overall there was very little cause for cheer. He said the the industry expected certain relief like enhancement of duty-free import entitlement on embellishments, exemption for central excise on manufacture of footwear components and free import of effluent treatment machinery and packaging materials.
By withdrawing CVD exemptions with respect to items that attract central excise duty, the import of machinery even with a concessional basic duty has not become more expensive.
"This has come at a time when modernisation of manufacturing was being planned by leather companies," he said.
The CLE chief was also surprised that the Finance Minister did not indicate any thrust for the export sector particularly by way of income tax relief despite repeated appeals from the exporting community.
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