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 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

news category


Related Categories:
May 2017

May 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