Home / Knowledge / News / Textiles / Exporters face disappointment with budget proposals - GEA
Exporters face disappointment with budget proposals - GEA
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

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Giorgio Mantovani
Corman S.p.A

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

April 2017

April 2017

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


Browse Our Archives


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