Industry & Economy
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Printing
Printing ink industry wants uniform customs duty
Our Bureau
Mumbai
,
Feb. 10
PRINTING ink industry is seen augmenting its turnover on the back of a strong growth in its user industries such as newspaper, flexible packaging and publishing.
At present, the turnover stands at Rs 1,200 crore. Printing ink requirement from these sectors has been expanding on account of the buoyant growth and the overall economic upturn.
Although the industry has been on a trajectory of growth, it has been faced with high raw material costs. "However, a drop in customs duty on imports of some of the raw materials as well as the rupee's strengthening against the dollar has negated some of the impact of raw material costs," Mr Ajit D Lalvani, Managing Director, Sunstar Graphics Pvt Ltd, said.
The industry wants customs duty on imports to a uniform level of 5 per cent and also a reduction in excise duty from the current level of 16 per cent, Mr V.K. Seth, Managing Director, Sakata Inx (India) Ltd.
Mr Seth is also the President of All-India Printing Ink Manufacturers' Association. He said the fringe benefit tax was also hurting the industry.
The industry also wants the Government to reduce tariff on raw materials that are environmental friendly.
The association has organised an international conference here to look at the technological changes that are sweeping the industry.
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