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Textile Ministry pitches for lowest GST slab
27
Aug '15
The textiles ministry is pushing for keeping the industry in the lowest slab of the proposed Goods and Services Tax (GST) and has pitched a proposal to the Finance Minister, according to media reports.

"GST is important, and we are trying to convince the Finance Minister so that in GST, the textile industry remains at the lowest level. There is maximum scope of employment in our industry," Union Textiles Minister Santosh Gangwar said during the inauguration of an intimate apparel show, Galleria Intima, in New Delhi.

He also outlined the ambitious goal of raising India's share in global textile exports to 10 per cent in the next five years, from five per cent at present. India's current textiles exports amount to around $40 billion.

Despite China being way ahead in the textile sector, Gangwar said he is confident that India's textile industry will not lose out to China although that country is the largest cotton producer in the world ahead of India.

He also highlighted the need for a change in labour laws in the country, especially to ensure flexibility of work timings for female workers. (SH)

Fibre2Fashion News Desk – India

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