What are the issues before the ICMA?
The confectionery industry has considerable potential for growth. A study undertaken by McKenzie projected the potential in the industry at over Rs 5,000 crore per annum whereas the current turnover is around Rs 3,000 crore. For achieving this potential there is need to upgrade the technology in the confectionery industry. Presently, the industry is not viable. The main issue before our industry is the very high rate of excise duty, which could not be passed on to the consumers because the products are sold in the price range of 25 paise, 50 paise and one rupee. The reservation of the industry to the small-scale sector and imports at much under-valued prices are allowed freely under Open General Licence, seriously impacting the domestic players. The domestic players are restricted from expanding their capacities especially in the candy and other products, which are still reserved to the small-scale industry (SSI) sector in the country while imports are freely allowed. This issue needs
