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Agarbathi industry wants incentives in Union budget to tide over Covid losses
Bengaluru: All India Agarbathi Manufacturers Association (AIAMA) is expecting subsidies to tide over the strain pandemic created. Arjun Ranga,...
Bengaluru: All India Agarbathi Manufacturers Association (AIAMA) is expecting subsidies to tide over the strain pandemic created.
Arjun Ranga, president, AIAMA said, "Agarbathi industry is anticipating necessary support from the government to tide over losses suffered by it in the wake of Covid outbreak. One of the key areas that the industry would want the government to address is to extend its support towards expansion of the export market as well as incentivise those engaged in exports."
Ranga suggested that the government should look at providing capital subsidies for new units dedicated for exports.
"Similarly, allowances and reimbursement on legal support and fee for registering Indian brands abroad, fiscal support on action taken to counter the duplicate and pass off products abroad. The government should also look at creating a mechanism that appreciates and gives growth based incentives," he said.
Asking for an additional weightage of Atmanirbhar Allowance of 50% under the Income Tax Act on the cost of materials consumed as well as on the manufacturing expenses incurred in making raw agarbathies, Ranga opined that this move will provide relief to the small units who have recently commenced their efforts in making our industry self-reliant and completely indigenous.
He believes that the allowance can be withdrawn in a tapered manner once the industry is confident of gaining the lost ground.
"Further, the industry is a labour intensive industry. The industry employs around 4 lakh employees and has the potential to give gainful employment to many more in the coming years.
However, the social security benefits suggested under the New Labour Codes will increase the labour cost and hence partaking of the labour cost will also provide a great relief to the industry.
Further, investing in infrastructure support like creating dedicated state warehousing facilities and offering them at concessional rates, setting up common facility centres for bamboo stick making from strips across the district and taluka headquarters of identified states will also help the industry to tide over the pandemic impact and chart the growth path," Ranga elaborated.