The textile, dyeing and yarn industrialists, under the banner of Swadesh Vyopar Association, met six BJP MPs in Delhi recently and briefed them on how they were incurring huge losses due to flooding of under-billed Chinese cloth in the Indian market. The industrialists maintained that they were a little relieved as the MPs extended their full support in dealing with the issue.
An industrialist having a dyeing unit here said it was the first time that all datas were put forth before MPs on how under-billed cloth was being imported from China, which was not possible without the connivance of officials. Due to this practice, the government was incurring losses of thousands of crores every year. Besides, this practice was denting business in markets across the country, including Tripura, Ahmedabad, Surat, Chennai and Ludhiana.
“We expect to be having a meeting with the ministers concerned in coming days. The practice needs to be stopped to save our own industry and manufacturers,” said Rajnish Gupta, member Swadesh Vyopar Association. Rs 8,000 crore tax evaded every year. It may be mentioned here that about 800 tonnes of under-billed fabric was reaching India every day and the government was incurring losses to the tune of Rs 8,000 crore per year due to the tax evasion caused by under-billing.
Source: Tribune India