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Financial Daily from THE HINDU group of publications Monday, February 26, 2001 |
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`Spare coir industry from excise net'
BANGALORE: The Karnataka State Coir Industries Association has urged the Union Finance Minister to spare the sector from an impost of excise duty on rubberised coir products, which it said would lead to heavy mortality of units. Such an impost will affe
ct the brown coir producers, which is dependent on the rubberised coir industry.
In a memorandum to the Minister, the Association has said that Karnataka alone produces 20,000 tonnes of brown coir, out of which a major portion goes for curled coir production, an important raw material to produce rubberised coir. About 150 units produ
cing brown coir will feel the impact, if the duty was imposed on the rubberised coir affecting not only the business of the small units but also on the employment prospects of about 2,00,000 workers. The rubberised coir is already losing market to the im
ported synthetic mattresses made of polyurethane, polyester fibre and others, the Association lamented. Any duty would further mar the industry, the Association said. -- Our Bureau
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