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Union Budget receives thumbs-up from textile trade bodies

11 Jul '14
4 min read

Mr Rahul Mehta, President of Clothing Manufacturers Association of India (CMAI) complimented the government among many points on maintaining the status quo on the optional excise duty front; increasing the duty free imports of trimmings from 3% to 5% of export value of garments and measures to encourage the SME Sector – which forms the backbone of the domestic apparel industry.

In addition, Mr Rajkumar appealed to the government to consider the long pending demand of SIMA to extend all the benefits to the made-up sector on par with garmenting sector by adopting cut and sew policy.

He further stated that the made-up sector adds much more value to the material by producing wealth out of waste (waste cotton) and also largely employs rural masses for the manufacturing activities.  He has appealed to the government to extend the 5% duty free import facility to the made-up sector also.

All the trade bodies were unanimous in their praise for the government of its decision to implement GST regime in a time bound manner, probably by the end of this fiscal year.

All of them in unison also welcomed the move to add 13 more airports and 14 more seaports for facilitating 24x7 cargo clearance which will increase competitiveness and for also exempting cotton transport loading and unloading services from the purview of service tax. Setting up of six textile mega-clusters also received a thumbs-up sign from the trade bodies.  

 
Click here to read textile and apparel related budgetary announcements.
 
 
 

Fibre2fashion News Desk - India

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