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Sunday, July 19, 1998

Business Briefing 

 
Delayed Payment Act to be amended: The Bill on amendment to the Delayed Payment Act is almost ready and will be presented in Parliament soon. This was announced by Brahm Dutt, joint secretary (SSI), Ministry of Industry, on Wednesday. He was speaking at a workshop on export marketing and financing opportunities in the SSI sector organised by the Confederation of Indian Industries. Dutt said that the Bill, once passed, will hopefully solve the financial problems of the small sector.

Dutt said that though the share of SSIs in total exports which stands at 35 per cent is quite impressive, the same cannot be said when we compare its share in the world market. "The international figures cannot really make us feel proud of our achievements."

A lot of export opportunities exist in the intermediate sector, pointed out Dutt. "As past performance reveals, the Indian SME sector has the potential to exploit the market." Engineering goods, auto parts, electronics are some of the sectors which are verypromising.

High excise resented: The Association of Small Scale & Cottage Industries of Ceramic & Glass Decorators resents the high Central excise which has resulted from the current Budget. According to the association, the excise amounts to a levy of 25 per cent at its assessable value. Decorating, printing and ornamenting on ceramic tiles is the job work of a handful of small entrepreneurs. The tiles are provided by the customers. The association says that it would be impossible to charge duty on MRP basis." It also claims that the decorator should not be treated as a manufacturer, and that the Budgetary provisions "would lead to mass unemployment."

New industrial estate in Bhiwani: The Industry Department of Haryana intends to set up an industrial area in the Bhiwani district. The area would be called Industrial & Infrastructral Development Centre. For this purpose, 62-acre land is to be acquired. The project has been apprised by the Sidbi. A loan of Rs 3.88 crore has also been approved.The implementing agency is Haryana State Industrial Development Corporation. Plans to develop another industrial area, Udyog Kunj, are also on the anvil.

(Contributed by Amiti Sen and Ravi Kapoor)

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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