Home / Knowledge / News / Apparel/Garments / Sick garment cos recieve no medicine from Budget
Sick garment cos recieve no medicine from Budget
29
Feb '08
The Union Budget 2008-09 is sadly a missed opportunity for ensuring long term employment and livelihood for the poorer sections and women, which the garment industry could have offered.

Instead of opting for short term relief measures for the “aam admi” through loan waivers, reviving this industry could have given long term employment opportunities to much larger sections of the society.

The industry has been crying since April, 2007 about the appreciating Rupee and very fast erosion of competitiveness of this sector. The industry was expecting concrete proposals to address the issue of competitiveness and specific concerns relating to power, infrastructure and credit.

However, the budget has not addressed any supply side shortages except for skill development. The council is happy to note the measures taken for improvement in higher education and skill development.

The enhancements in TUFS and SITP may help the downstream textile industry but the garment industry, which is expected to contribute 50% of the exports in Textile & Clothing (T&C) sector in the 11th plan, has not been provided with any succor.

Although concern was expressed at the slackening manufacturing sector growth, specially textile and apparel products, no remedial measures was announced. The Council had been urging for refund of state levies to partly dilute the erosion in realizations, which have been to the tune of 15% in the current year.

Zero import duty and excise duty on machines could have encouraged fresh investment as also mordernisation, both critical for improving competitiveness of this sector.

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Stefano Gallucci (left), CEO, Santex Rimar Group, and Tamer Hasbay, President, Has Group; Courtesy: Santex Rimar

Textiles | On 24th Jan 2017

Santex Rimar to market all Has products globally

Italy based Santex Rimar Group has signed an agreement with Turkey...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search