Home / Knowledge / News / Textiles / Exporters face disappointment with budget proposals - GEA
Exporters face disappointment with budget proposals - GEA
29
Feb '08
Mr. Surinder Anand
Mr. Surinder Anand
Reacting sharply to the Budget proposals, Garments Exporters Association (GEA) has pointed out that the exporting community feels being left in the lurch as there is hardly anything new in the Budget proposals that will lift the sagging morale of our exporting community which is facing serious crisis because of global slow down and sharp and persistent appreciation in the value of rupee, seriously eroding the competitiveness and profit margin of Exporters.

The Finance Minister, conveniently ignoring the legitimate expectations and needs of the Garment Exporters, has also failed to restore 100% exemption to export earnings under Section 80 HHC of Income Tax Act. He has also failed provide the necessary exemption from Service Tax, Fringe Benefit Tax and other Central and State Levies.

Further Garments Exporters Association said that budget proposals are thus a let down for the garment exporters who were hoping for a dream budget from the Finance Minister, in view of various recommendations of Ministry of Commerce and Industry, Ministry of Textiles and even the Prime Minister's Economic Advisory Council to provide necessary fiscal and commercial relief to the Textile Industry to help them to overcome the present crisis.

Garments Exporters Association

Must ReadView All

Courtesy: Kornit Digital

Textiles | On 28th Feb 2017

'Customisation is an advantage of digital printing'

Changing business models and companies' decision to reduce their...

Textiles | On 28th Feb 2017

China's textile & apparel exports up 10.2% in Jan 2017

Exports of textiles and garments from China resumed growth in the...

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Marten Alkhagen
Swerea IVF AB

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
February 2017

February 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