Good tidings expected for textile industry
The Union Budget 2021 had a couple of announcements for the textile industry. Fibre2Fashion spoke to some industry stalwarts to know their point of view.
Rajendra Agarwal
Managing Director, Donear Industries Ltd
"The reduction in the BCD on caprolactam, nylon chips and nylon fibre and yarn to 5 per cent shall encourage the growth of the MMF industry while also promoting exports. For manufacturers like us, this really empowers us to scale up and diversify, and positively contribute to economic recovery. Further, a promise to strengthen the global leadership of Indian textiles. Emphasising the Indian government's initiative of Atmanirbhar Bharat, and with imports being drastically cut down, there is less opportunity for new entrants, which will in turn strengthen the position of local players (like us) who can fill these niches. Therefore, 2021-22 seems to be the year of revival as there are good tidings expected for the textile industry from manufacturing, consumption, employment generation and from a boosting demand standpoint."
Vinod Kumar Gupta
Managing Director, Dollar Industries Limited
RS Jalan
Managing Director, GHCL Ltd
Chirag Pittie
Whole time Director, SVP Global Ventures Ltd
Gaurav Davda
Head- Corporate Affairs and Strategic Initiatives, Jindal Worldwide Ltd
Ashish Jain
Director and CEO, iatric Industries Pvt Ltd - Von Wellx Germany
Published on: 08/02/2021
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.