Home / Knowledge / News / Textiles / Indian textile sector seeks relief in Union Budget 2013-14
Indian textile sector seeks relief in Union Budget 2013-14
22
Feb '13
Indian textile and garment industry is seeking relief inUnion Budget and is expecting exemption of customs duty on man-made fibre, removal of levy of excise duty on readymade garments, allocation of more fund for Technology Upgradation Fund Scheme (TUFS), export incentives on textile and garment products as well as removal of customs and excise duties on all textile machineries.
 
Speaking to fibre2fashion, secretary of South India Garment Association (SIGA), Mr. Anurag Singhla said, “We expect the Finance Minister to remove the excise duty on branded garments as it is causing negative growth, slow down of economy, devaluation of stocks, under use of production capacities and reduced employment to common people.”
 
The levy of excise duty on labeled apparels was imposed and rolled back in 1972 and in 2001 due to its negative impact on garment industry, but it was reintroduced in February 2011.
 
Mr. Praveen Bafna, vice president of SIGA, explains, “Cheap import from Nepal, Thailand & bilateral treaty with Bangladesh for duty-free import of garments is causing a severe dent in the domestic industry. Big brands are already procuring the garments from Thailand, Nepal and also from Bangladesh, whereas some small and medium garment manufacturers have started visiting Bangladesh to explore opportunities to procure the garments at lower rates. Hence in the interest of domestic garment industry and to save jobs, the levy of excise duty must be re-considered with immediate effect.”
 
According to Mr. K Selvaraju, general secretary of Southern India Mills Association (SIMA), the Central Government should remove customs duty on chemical fibres. “We have demanded for removal of customs duty on man-made fibres.”
 
“We have also urged to reduce the central excise duty from existing 12 percent,” he adds.
 
Mr. Paritosh Agarwal, managing director of Suryalakshmi Cotton Mills Ltd, says, “Adequate fund should be allocated for TUFS so that the sanctioned projects could get financial assistance.”
 
“We have asked for exemption of customs and excise duties on all textile and garment machineries as well as to increase export incentives on garments,” he adds.
 
He further informs, “Interest subvention rates on exports of readymade garments should be increased and it should be introduced on yarn and fabric.”
 

Fibre2fashion News Desk - India


Must ReadView All

Egypt’s textile exports increase 3% in 10 months: TEC

Textiles | On 21st Nov 2017

Egypt’s textile exports increase 3% in 10 months: TEC

Exports by Egypt’s Textile Export Council (TEC) between January and...

UKFT turns sector skills body for UK fashion, textile sector

Textiles | On 21st Nov 2017

UKFT turns sector skills body for UK fashion, textile sector

The UK Fashion & Textile Association (UKFT) recently announced at a...

Pakistan’s textile exports up 7.72% in July-Oct ’17

Textiles | On 21st Nov 2017

Pakistan’s textile exports up 7.72% in July-Oct ’17

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Binoy Ravjani
Hero's Fashion

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

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

November 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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

Active Poll

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

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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