Kolkata: Minister of Finance Nirmala proposal Nirmala Sitharaman to raise umbrella fees up to 20% and attract exceptions will cause a two and three-fold female umbrella increase and the garden umbrella which is currently imported from China.
But the umbrella producer in Kolkata said the move would provide Fillip to the local component industry, although most fabrics would continue to be imported from China.
Netizen Sanam Sutirath Vizier commented, “Diamond Hua Sasta Aur Umbrella Mehanga …
Kyunki Baarish to Kabhi-kabhi Aati Hai.
Diamond forever.” The Association of President Hemant Paul’s presidential umbrella said that the revised tax would drive the price of two and three-fold umbrellas Currently imported from China.
The price of the garden umbrella will also rise due to imported frames from China.
“Indian fabrics have more longevity.
But it takes a while to replace polyester and nylon fabrics imported from China because only about 30% of fabrics can now be sourced in India.
Imports to be replaced are ribs, tubes, folding sticks And the handle.
While Chinese components are more competitive prices now because customs for these components increases from 5% to 10%, differential costs with components produced in India will reduce, “Paul said.
Bengal is an umbrella manufacturing center for the country, stirring more than 1 year-year umbrella.
Suresh Banthia, Director of Payung residents, said: “In Bengal, Umbrella-make is the cottage industry.
There are local capabilities of manufacturing components.
But the previous low task structure has made them disadvantaged since China offered a discount of export price 13%.
With that handicap Now missing, local components will become more competitive and it will help the industry.
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Umbrella industry see the budget through Chinese prism
