Home / Knowledge / News / Textiles / Budget has let us down, feels CLE Chairman
Budget has let us down, feels CLE Chairman
03
Mar '08
Mr Mukhtarul Amin
Mr Mukhtarul Amin
After Union budget 2008-09, Mr Mukhtarul Amin, the Chairman and Managing Director of Superhouse Leather Ltd, told Fibre2fashion, “I am disappointed with what ever has come up in this year's budget.”

Further Mr Amin, who is also the Chairman of Council of leather export, said, “We were expecting support of Government, when Rupee appreciation has hit us so badly.”

According to Superhouse Ltd MD, it was essential for the Government to deduct 2 percent on interest rate of term loans and duty free import license which at present is at 3, should have been at 5 percent. Central excise duty on components should come down to 5 to 10 percent. Incentive for footwear industry is reduced a mere 2 percent, which at present is at 16 percent, has come down to 14 percent.

Talking about footwear industry as a whole, the Chairman of CLE said, “We were expecting to earn $7 billion by 2011, but looking to the budget, this seems quite impossible.”

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Warangal textile park gets environment clearance

The Kakatiya Mega Textile Park, coming up in Warangal district of...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

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

Larry L Kinn
Suominen Corporation

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Wendell Rodricks
Wendell Rodricks

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

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