Home / Knowledge / News / Rise to the challenge of growing demand - FM
Rise to the challenge of growing demand - FM
05
Mar '08
The Finance Minister, Mr. P. Chidambaram, has advised the Indian manufacturing industry to rise to the challenge of meeting the rising demand for goods and services in the current year and “hold the price line and if possible lower prices” to give a boost to consumption.

Addressing the National conference on Union Budget 2008-09, organized by FICCI, Mr. Chidambaram said: “At a time when agriculture is not growing at the required rate, consumption is flagging, exports are hit by rupee appreciation and there is pressure on oil prices, industry must rise to the occasion and ensure that prices are kept in check.”

He urged industry sectors such as cement, pharmaceuticals, automobiles, and paper, to lower prices, gain in volumes and meet the rising demand this year.

Mr. Chidambaram appealed to all the chief ministers to extend their support to the export sector which has been hit, not by volumes or shrinking markets, but by the appreciation of the rupee.

“Just as the Central Government reimburses each tax imposed on the export industry, I appeal to all states to do the same in order to give succour to the exporting community,” the Finance Minister said.

Budget 2008-09, the Finance Minister said, seeks to mitigate the woes of the export sector by given direct export benefits. The market stabilization scheme, was in effect, a subsidy to the exporting community, he pointed out.

Mr. Chidambaram said the Budget proposals were aimed at keeping the India growth story in tact. While expressing satisfaction at the growth trends and prospects for the services and manufacturing sectors and investment and consumption during the past couple of years, he expressed concern at the rate of growth in agriculture.


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Steve Cole
Xerium Technologies

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X