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INDIA: Naphtha duty exemption extended

In a bid to maintain retail electricity prices ahead of the general elections, due in April-May this year, the government has decided to keep naphtha imports free of customs duty beyond March 31. The government had exempted 5% customs duty on import of naphtha for use by power plants to generate electricity, thus preventing retail electricity prices from rising due to use of costlier fuel. India has an installed power generation capacity of 147,403 megawatt (mw), of which, 14,734 mw (10%) is fuelled using gas. Generation companies, however, are forced to use naphtha, a much costlier fuel, due to lack of easy availability of gas. Withoutthe 5% customs duty, generation companies might have started selling power at higher prices, forcing distribution companies to increase the prices of retail electricity. An expert, however, points out that the state distribution companies might not have been allowed to raise prices in the election year, thus straining their already stretched finances. Manish Agarwal, executive director, advisory services, KPMG said the decision is a good one. "I am happy to see that the distribution companies are not burdened with higher costs, as the central public sector utilities pass on any increase in generation costs to the distribution companies real time."


Added: February 25, 2009 Source: Agencies







Highlights of the Foreign Trade Policy

The Hon’ble Union Minister of Commerce & Industry, Government of India, had announced the Foreign Trade Policy on 8th April’05. Some of the Salient Features / Highlights of the proposals pertaining to Textile Industry in general and Handlooms in particular are. >> More


Salient features / Highlights of the Foreign Trade policy


Modern Processing Houses

The Indian Home Textile Industry has access to excellent infrastructure facilities and uses the latest technology and machinery.

Many manufacturers have set up state-of-the-art modern processing houses to roll out large volumes of high quality products to meet the international market demands and expectations. Needless to say that India’s Textile Exports have grown exponentially over the last decade.

Eco- Friendly Dyes: Use of Azo-Free Colours

The manufacturers in India are well aware that AZO free colours and dyes should be used. India has discarded the usage of banned materials in the dyeing process with safe substitutes, to ensure eco-friendliness of the products manufactured by the industry.