Home / Knowledge / News / Textiles / Indian textile sector presents wish-list from Union Budget
Indian textile sector presents wish-list from Union Budget
07
Jul '14
MNREGA benefits should be only given to those who are not employable by the manufacturing sector, streamlining scattered textile production chain before implementing GST, a route to liquidate CENVAT balances from balance sheets, reduction in basic custom duty on PTA, MEG, PSF, POY and also textile machinery and SAD on all of these to be lowered from four percent to zero percent.
 
These are a few of the wish-list of the Indian textile industry on its expectations from the Union Budget to be announced on July 10. 
 
Other than timely disbursement of TUFs payment, promotional schemes like focus markets to reach out to untapped overseas countries, Mr JC Soni, Business Head at BSL Suiting’s Ltd touched upon the gravest concern – ‘Shortage of labour’ haunting the Indian textile sector since the introduction of the guaranteed employment scheme of the government – MNREGA.
 
He says, “MNREGA benefits should be only given to those who are not employable by the manufacturing sector. Those employed under MNREGA schemes, should first be encouraged to go through employment exchanges and only and only if suitable employment is not available in the manufacturing industry, should they be then given employment under MNREGA. This to a great extent will address shortage of labour issue haunting the manufacturing industry”. 
 
Mr RK Dalmia – Senior President overseeing Birla Century, Century Yarn and Century Denim - all divisions of Century Textiles and Industries Ltd is of the opinion that the government should come out with a very growth oriented budget, because overall growth in the economy, will also mean growth for the textile sector. He also expects the government to put in place fast decision making systems. 
 
On implementation of GST, he says, “Before implementing GST, the government should first look in to the entire textile production chain. Currently after spinning, the entire production chain is scattered. Weaving is done at one location, while fabric processing is done at another and garment stitching is done at a third. This will make the implementation of GST very difficult, so the government should begin by first streamlining the production system”. 
 
Mr Vikas Ladia – MD at Rajasthan Syntex Ltd wants the government to find a route to liquidate CENVAT balances, since the MMF textile processing industry has accumulated CENVAT balances, because of an inverted duty structure. 
 
He says, “We have 12% duty on raw materials and 12% on yarn, but the value addition from fibre to yarn is not much, because of which we have accumulated excise duty in our books, so we expect some kind of mechanism to be put in place to clear the same. I also would want the GST regime to be put in place at the earliest to remove hindrances in sale of goods within India and ensure free movement of goods within the country. Excise duty on MMF should also be reduced from 12 percent to 8 percent.”
 


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Thrace-LINQ expanding Dorchester County operations

Thrace-LINQ, a global supplier of fabrics for the textile industry,...

Courtesy: Levis

Fashion | On 26th Sep 2017

Google unveils smart denim jacket with Levi Strauss

Ending the months-long wait, Google has unveiled its smart denim...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kerem Durdag
Biovation II LLC

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson
TissueGen

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

Sonam & Paras Modi
SVA

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

Rupa Sood and Sharan Apparao
Nayaab

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

September 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
75.5%
No
12.2%
Skip
12.2%

Total Votes: 49

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
63.3%
No
24.5%
Skip
12.2%

Total Votes: 49

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
87.8%
No
6.1%
Skip
6.1%

Total Votes: 49

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
71.4%
No
10.2%
Skip
18.4%

Total Votes: 49


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