Home / Knowledge / News / Textiles / Indian textile sector cheers zero excise duty on garments
Indian textile sector cheers zero excise duty on garments
28
Feb '13
The Union Budget 2013-14 presented by the India’s Finance Minister P Chidambaram has brought cheer for the textile and garment industry as the Central Government has accepted their long standing demand for removal of excise duty on branded garments and extending several schemes and incentives in the 12th Five Year plan.
 
Mr. A Sakthivel, chairman of Apparel Export Promotion Council (AEPC) and president of Tirupur Exporters Association (TEA), told fibre2fashion, “We welcome the Union Budget and thank the Finance Minister for accepting the long-awaited request of textile and garment industry for removal of excise duty imposed on branded apparels sold in domestic market.”
 
“We also welcome the move for not increasing direct and indirect taxes, restoring zero excise duty for cotton and manmade sector at the yarn, fabric and clothing stage, continuance of Technology Upgradation Fund Scheme (TUFS) in the 12th Five Year Plan, allotting Rs. 24 billion for powerloom sector, Rs. 500 million for textile processing and Rs. 500 million for apparel park as well as Rs. 10 billion for skill development,” he adds.
 
Echoing him, Mr. SV Arumugam, chairman of Confederation of Indian Textile Industry (CITI), says, “Restoring the optional excise regime for branded garments and made-ups is the positive factor in the Union Budget.”
 
Commenting on the Union Budget, Mr. Rahul Mehta, president of Clothing Manufacturers Association of India (CMAI), says, “The revertal to the 'optional route' not only provides zero percent duty to the clothing industry, but will also provide some form of protection to the domestic industry from cheap imports. It will further encourage foreign retailers to set up shop in India to manufacture their requirements in India, rather than import from other countries."
 
“There will be a relief for the apparel manufacturers in the country because of the removal of excise duty on labeled clothing in domestic market,” says Mr. Devkishan Manghani, president of Federation of Surat Textile Traders Association (FOSTTA).
 
Mr. KK Agarwal, president of Northern India Textile Mills Association (NITMA), says, “We welcome the Union Government’s decision of restoring zero excise duty on cotton and man-made fabrics and allotting fund for powerloom and handloom sectors.”
 
“The major welcoming feature of the budget is the zero excise duty on branded readymade garments and made-ups,” says Mr. S Dinakaran, chairman of Southern India Mills Association (SIMA).
 
Mr. MC Rawat, secretary of Madhya Pradesh Textile Mills Association (MPTMA) commends the Finance Minister for restoring the ‘zero excise duty route’ for cotton and manmade sector. 
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: conservativehome.com

Textiles | On 24th Jun 2016

Britain set to leave EU; India prepared for consequences

Britain is set to be the first country to leave the EU since its...

Apparel/Garments | On 24th Jun 2016

TEA appeals to PM to forge FTA with Britain

On the heels of Britain voting to exit the European Union, the...

Textiles | On 24th Jun 2016

Now, govt tries to link textiles sector with tourism

The government has said concrete steps are being taken to set up...

Interviews View All

Frank Gossmann
Rotorcraft AG

What new innovations did Rotorcraft exhibit at the recent textile...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Judy Frater
Somaiya Kala Vidya

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

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

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search