Today, the global market of dyestuffs, pigments and intermediates is around USD 25.85 billion with dyestuffs and pigments market is approximately around USD 17.88 billion and the intermediates is about USD 7.98 Billion. India's share in the global market is about 8 to 9 per cent. China is the largest manufacturer of dyes followed by India.
Industry expectations
This will encourage our industry to export value added finished products and import only basic products of low value.
Also, we expect clear cut guidelines be laid down to complete the procedures and formalities regarding refund of excise duty to exporters within a strict time frame including provision for payment of interest on late refunds.
The industry expects that the import duties on dyestuff should be at least retained to the present level to enable them to compete with the imported products.
Industry expects reinstatement of the exemption scheme, which has provided concessional rate of 60 per cent of the normal rate of Central Excise Duty (CED) with Cenvat credit unto clearances of Rs 1 crore (now withdrawn).
The slab of the first clearance value of Rs 1 crore (Rs 10 million) may be increased to Rs 2.50 crore (Rs 25 million). Also, for eligibility criteria, aggregate of value of Rs 4 crore (Rs 40 million) in the previous financial year should be increased to Rs 5 crore (Rs 50 million).
The
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