Home / Knowledge / News / Textiles / Top demands of Indian textile & clothing sector in Budget
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

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Johan Berlin
InvestKonsult Sweden AB

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson
TissueGen

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

Karan Arora
Karan Arora

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

Sanjukta Dutta
Sanjukta's Studio

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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