Home / Knowledge / News / Textiles / Budget dampens the spirit of SMEs, FIEO Chief
Budget dampens the spirit of SMEs, FIEO Chief
Mar '08
Expressing his disappointment over the Union Budget, Shri Ganesh Kumar Gupta, President, Federation of Indian Export Organisations (FIEO) said that Budget has not addressed the problems faced by the exporters in view of appreciating Rupee and stagnating traditional markets.

The proposal to provide zero rating of exports through refund of States and local levies, exemption from FBT on genuine business expenses, exemption from all service taxes on services used during the course of exports to provide a level playing field to Indian exporters have not been considered.

President, FIEO also expressed his dismay over non-extension of sunset clause for EOU,EHTP and STPI, besides temporary reintroduction of 80-HHC to encourage investment in export manufacturing.

Increase in allocation for textiles upgradation fund and integrated textiles park besides mega clusters schemes for handloom and handicrafts would not provide immediate support to textiles sector which is need of the hour.

No consideration was given to form an “Export Marketing Fund”for MSME sector which is essential in present scenario when export orders are drying up,said FIEO Chief.

The only silver lining for the export sector is the gradual move towards GST by reducing excise duty from 16% to 14% and few concessions given to sports goods and gem and jewellery sector through reduced customs duty on their inputs.

Federation of Indian Export Organisations

Must ReadView All

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Interviews View All

Textile & apparel industry

GST is a complicated and lengthy process

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson

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

Silvia Venturini Fendi
Fendi s.r.l

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

Rupa Sood and Sharan Apparao

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

Yash P. Kotak
Bombay Hemp Company

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

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


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search