After the Union Budget of 2008-09, Fibre2fashion contacted GHCL Ltd, to get their comments on todays budget.
Mr Nikhil Sen, the Head Strategy and International Business of GHCL, responded quite amicably in this regard. Below are his comments we received.
The textile industry has faced problem at large level due to rupee appreciation and due to that importance of creating price stability has been understood.
TUFS Scheme has tried to encourage continued participation in this sector, initiation of creating mega clusters for handloom, power-loom and other merchandising sector is showing positive signs.
Developing infrastructure of mega-clusters and textile integrated parks, will strengthen the organized retail for sourcing purposes. As these areas become more efficient, sourcing will be easy and cost efficient which will help in having good profit margin.
As GHCL is looking to venture into retail, this move will strengthen our ability to source efficiently & develop strongly. It is ultimately strengthening the backbone of retailers. But one thing I would like to add is that more could have been done such as flexibility of labour, tax major etc.
Fibre2fashion News Desk - India
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