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Our Correspondent

Madurai , Oct. 13

THE Tuticorin-based Indian Chamber of Commerce and Industry has urged the Centre to set up a nodal agency to assist small-scale industries import machinery.

It has also sought an increase in excise limit for such units to help them remain competitive in the WTO era.

According to the Chamber Secretary, Mr D.R. Kodeeswaran, the establishment of a nodal agency would help the small units buy modern machineries to produce goods of international quality. The increase in excise limit should be Rs 3 crore from Rs 1 crore at present and the ceiling in respect of investment in plant and machinery should be raised from the current level of Rs 3 crore.

Further, the Central Government should subsidise interest rates for the small-scale units to enable them face international competition. Such steps are necessary for the small-scale units as they provide 70 per cent of employment in the industrial sector and supply vital components to the large and medium-scale industries, he further said.

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