Delegation of industrialists meets secretary for industrial policy and promotion | punjab | Hindustan Times
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Delegation of industrialists meets secretary for industrial policy and promotion

punjab Updated: Dec 17, 2013 19:19 IST
HT Correspondent
HT Correspondent
Hindustan Times

A delegation of the industrialists on Tuesday met Saurabh Chandra, secretary, department of industrial policy and promotion and deputy secretary Mrutyunjay Behera in Delhi urging the rationalisation of a few industrial policies of the Centre.

The delegation was led by Gurmeet Singh Kolar, president, Federation of Industrial and Commercial Organisations (FICO).

Delegation members and vice-president United Cycle Parts Manufacturer Association (UCPMA) Jagatvir Singh Bittu, general secretary Rajeev Jain said the delegation apprised the secretary about the bad impacts of the import policy over the cycle industry due to which, many Chinese firms were making huge profit.

“Imports from China and other countries are hitting the industry hard and many small manufacturing units have closed down due to the import of finished goods from China. Though there is 30% duty on a complete bicycle and 20% on bicycle parts, still huge quantity of goods are coming in India directly from China or via SAARC countries at low invoicing,” the delegation apprised the secretary with a request to increase the import duty on both bicycles and its parts to 50%.

The delegation also demanded that the original bill of entry should be called, while calculating the customs duty as done online in African countries (COMESA), so that government do not lose revenue due to under invoicing.

On the issue of subsidy on used imported machines, Kolar said FICO represented small and micro sector, which could not afford costly imported machine, but have will to upgrade the technology. It was requested to allow subsidy on used imported machines.

“This will help us to increase production, in automation and quality will increase manifold, which will also reduce the prices of the products,” stated Kolar.

The delegation also appealed the union government to abolish 2% central excise on complete bicycle.
The delegation also requested the union government to give low rate of interest loan to MSME industry.
To the demands raised, deputy secretary, said, “The floor price have been discussed and government is on its toes to provide the data for the imposition of safeguard and for fixation of floor price, office orders have already been issued.

He said the government was seriously considering abolishing 2% excise duty on complete bicycle. Centre government had sent letters to the higher authorities to protect the bicycle industry and recommended purchasing 100% 'made-in-India bicycle' in government tenders, he added.