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PIX Transmissions, one of the India's exclusive manufacturers and exporter of V belt industrial hoses and belts, was awarded the prestigious "Trading House Certificate". This recognition and status is based on the total export performance during years of the company which record cumulative exports of over Rs 500 crore during the past three years as per the Foreign Trade Policy.
The company is engaged in manufacturing of industrial, agricultural and automotive belts, high pressure braided and spiral hydraulic hoses as well as hose assemblies and end fittings. It is one of the fastest emerging global leaders in the mechanical, power and fluid transmission business. The company exports to over 65 countries through 45 distributors all over the world. PiX Transmission lays great stress on Research & Development whch has developed innovative products such as specialized hoses, thus moving higher in the value chain and giving the company a niche in the market place.
PT has a wide global reach. It has established joint ventures in United Kingdom, Brazil, Germany, North Ireland, UAE and China, as a result it is able to serve its customers better and market its products extensively to various parts of the world.
The THC has multifarious advantages in terms of facilitations in the export import transactions. First of all it will be entitled to 1% status Holder Incentive Scrip under the Foreign Trade Policy. Secondly, the Certificate empowers PT to retain 100% of forex exchange in EEFC account. Besides, PT will be exempted from Bank Guarantees for the EXIM policy matters. Moreover the company will enjoy the benefits of being exempted from the compulsory negotiations of documents through bank. Now PT will be able to deal through Self Declaration Basis for Custom Clearances. Moreover the company will be given speedier response for fixation of input - output Norms on priority basis ie. within 60 days.
The company made this announcement on 12 January 2011.
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