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Top demands of Indian textile & clothing sector in Budget
25
Feb '13
As the Union Budget of India is going to be presented by the Finance Minister later this week, the textile and garment representatives of the country have urged for tax exemptions and incentives including reduction of mandatory excise duties and customs duties on man-made fibres, fabrics and labeled garments; liberalization of Technology Upgradation Fund Scheme (TUFS); elimination of distinction between branded and unbranded apparels; increased duty drawback; flexible labor laws; more competitive bank interest rates; and reduction of customs duty to 5 percent on synthetic fabrics.

Speaking to fibre2fashion, secretary general of Confederation of Indian Textile Industry (CITI), Mr. DK Nair said, “We are looking for a relief in reduction of mandatory excise duties as well as customs duties on man-made fibres and filaments in the Union Budget.”

“We have also urged for conversion of mandatory excise duty on labeled garments and made ups to optional duty, since it has significantly affected our labor intensive apparel sector,” he informs.

Talking about TUFS, he says, “We have high expectation about the continuation and liberalization of TUFS in the Budget.”

Mr. Rahul Mehta, president of Clothing Manufacturers Association of India (CMAI), had earlier told fibre2fashion, “We have asked for removal or reduction of excise duty on garments and elimination of distinction between branded and unbranded apparel products in the Union Budget.”

“We have also demanded for increased duty drawback, more flexible labor laws and more competitive bank interest rates,” he adds.

Dr. A Sakthivel, chairman of Apparel Export Promotion Council (AEPC), said in a release, “We have proposed for reduction of customs duty to flat 5 percent on synthetic fabrics to enhance 100 percent garment exports in 3 years and 10 percent within the current financial year 2012-13.”

Fibre2fashion News Desk - India


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