Home / Knowledge / News / Textiles / Forthcoming Budget - Industry players optimistic
Forthcoming Budget - Industry players optimistic
16
Feb '08
Each year, entire India eagerly waits for the month of February to come to an end as the Finance Minister declares Union budget which plays a decisive role in the country's economic progress.

The Central Budget over the last four years had provided significant relief to the textile industry by way of rationalizing the fiscal duty structure and reducing duties. However, recent rupee appreciation has caused uncertainty on textile and clothing industry's future and players from the sector want intervention of the Government in the forthcoming Budget.

In order to sustain development, textile industry expects the export policies to be more simplified with liberal excise and customs duty structure. Different players have prepared their wish list for the forthcoming budget hoping that it will provide some concessions and help them to achieve their targets effectively for the year 2008-09.

Fibre2fashion, in its attempt to understand the industry expectation from Union Budget, gathered views from important manufacturers of synthetic fibre, fabrics and machineries with respect to policy measures, exemptions on excise, export and import duties.

Dr V G Habbu, Vice President, of Reliance Industries Polyester Sector, stated, “In my opinion, the Government should, in the first place, take note of the new REACH regulation that has come into effect from 1 June 2007, in Europe. This will have long term impact on the exports to Europe. Hence, fiscal and institutional support is a must for chemical industry in general (and Textile industry in particular) for complying with REACH.”


Must ReadView All

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Steve Cole
Xerium Technologies

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Wendell Rodricks
Wendell Rodricks

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

Prathyusha Garimella
Prathyusha Garimella

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

July 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

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X