Industry & Economy
-
Excise and Customs
Short-term response to price situation: CII
Our Bureau
Advertisement
|
|
New Delhi
Jan. 23
The customs duty cut on various capital goods announced by the Government on Monday would "largely be absorbed by the competitive Indian industry", according to the Confederation of Indian Industry.
Some of these reductions are in line with the general movement towards a lower duty regime, said the chamber in a release on Tuesday.
The chamber stressed on the need for the Government to tackle inflation, which was hurting the common man. For this, bold decisions are required in the form of interventions to contain agricultural commodity prices.
In the medium to long-term, the whole issue of supply side shortages would have to be addressed in a comprehensive manner, since reduction of duties can only serve as short-term responses to a price situation.
However, the Federation of Indian Chambers of Commerce and Industry welcomed the Government's move. It said the reduction in customs duty would give a fillip to large projects in manufacturing and infrastructure.
The chamber expressed concern over the fate of domestic companies producing goods as final products.
A sudden reduction in customs duty in case of such commodities can adversely impact the competitiveness of the domestic companies engaged in the production of such items.
More Stories on :
Excise and Customs |
Industry Associations
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
