Thursday, February 25, 2016

#Budget2016 Wishlist: Include artificial marble slabs & tiles in Merchandise Exports From India Scheme :Marble Industry Body

India’s leading Marble and Granite companies want Finance Minister to strongly consider inclusion of artificial or agglomerated marble slabs or tiles under the ‘Merchandise Exports From India Scheme (MEIS)’.

“Our industry today faces a big threat from countries like China, Taiwan and Korea who also are exporters of artificial or engineered stones that include Marble, Quartz slabs and tiles. These countries are adopting aggressive pricing policies. A number of Indian players in the sector who have made substantial investments in setting up of state of the art plants and machineries are losing out to their Chinese counterparts on account of price competitiveness. We are hopeful that the Finance Ministry extends our industry an MEIS incentive of 5 per cent on export of engineered stones to all the three A, B and C category countries. This will not only spur growth but also increase the nation’s net exports,” says Mr. Amit Shah, Director, CMC.