Home / Knowledge / News / Textiles / Textile industry seeks relief in upcoming Budget
Textile industry seeks relief in upcoming Budget
20
Feb '08
As the Union Budget for present fiscal is just round the corner, different industrial houses have started formulating strategies for the year ahead.

Fibre2fashion started an untiring journey to accumulate information in its endeavour to comprehend the demands, expectations, and suggestions from industry. Manufacturers of technical textiles, intimate wears, cotton yarns, and retailers responded positively regarding their requirements to run a smooth business throughout this financial year. Suggestions of each enterprise are vital for the industry to contribute more in overall socio-economic development of the country.

Mr Ashish Bharat Ram, Managing Director, SRF Limited, the leading Indian player in Technical Textiles, told, “The rupee appreciation through the course of the year, along with high interest rates and energy costs has put a huge strain on the manufacturing sector. Since inflationary pressures will not allow much change on this front, we hope that the peak customs rates do not undergo any change.

“In addition, there are huge anomalies in the excise structure across the petrochemical chain which leads to CENVAT accumulation. If this can be harmonized, it will make business life far easier. The opening of the education sector is another area which needs to be looked at closely if we are to ensure that we have enough skilled people to meet the country's growth aspirations.”

Must ReadView All

Textiles | On 17th Jan 2017

GST rollout from July 1; states to control small taxpayers

The Centre and states have reached a consensus on the issue of dual...

Textiles | On 17th Jan 2017

Reliance Industries net increases 3.6% in Q3FY17

In the three months ended December 31, 2016, India’s biggest private...

Courtesy: Carnegie Fabrics

Textiles | On 17th Jan 2017

Calera Capital acquires majority stake in Carnegie Fabrics

Private equity firm Calera Capital has bought a majority stake in...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

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

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
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search