India Reduces Consumption Tax On Dyestuff Products And Encourages Exports
India chemical and chemical fertilizer iron and steel minister Ram Vilas Paswan recently said that the India government will cut the consumption tax on dye products from 14% to 8%.
He said the government would reduce dye consumption tax and encourage enterprises to export. He also urged enterprises to increase investment in research and development and other dye related industries.
Paswan also urges SMEs in India to actively play the role of environmental protection, adopt various pollution control measures, and comply with pollution control standards.
In the 2007 fiscal year, India's dye exports recorded a record of 100 billion rupees, and exports expected to exceed 150 billion rupees in the next three years.
In recent years, the annual growth rate of dyes in India is 20%.
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