Implementation of the proposed Goods and Services Tax (GST) will help in reducing various cost aberrations across the states for the ceramic industry, an industry body official said here today.
“Currently, there are various cost aberrations across the states in India. However, quicker implementation of the GST can nullify the impact of the current tax regime employed by various states,” VDMA (German Engineering Federation) Managing Director Rajesh Nath said.
He was speaking on the sidelines of the inauguration of the 8th edition of the Annual Ceramic Materials, Machinery, Supplies and Technology Show. The first edition of the exhibition was held in ceramic hub Morbi in Rajkot district.
“Sixty per cent of around 150 exhibitors, who have put up their stalls at the three-day exhibition, are global exhibitors. Among the national exhibitors, 25 per cent are from Gujarat and Maharashtra,” Nath added.
During the three-day long exhibition, which began today and will end on Thursday, the exhibitors are expecting a footfall of close to 5,000 visitors, he said.
The ceramic industry, he said, outpaced country’s growth rate of 5.5 per cent to grow at 8—8.5 per cent and has been least affected by the global economic downturn.
Meanwhile, the exhibition will be taken over and operated by Messe Muenchen India (MMI—India) from the 2014 edition onwards.