Home / Knowledge / News / Textiles / SIMA welcomes textile clusters in Bhiwandi & Erode
SIMA welcomes textile clusters in Bhiwandi & Erode
05
Mar '08
Dr K.V.Srinivasan
Dr K.V.Srinivasan
The highly labour intensive textile industry which can shoulder major responsibility for inclusive growth of the country has been overlooked in the Union Budget 2008-09, reacted Dr K V Srnivasan, Chairman, SIMA.

In a Press Release issued, he said that while the industry was hoping some relief measures in order to overcome the recession faced by the industry in the aftermath of sudden appreciation of Rupee against US Dollar (around 15%), high bank interests (5%), high cotton prices (20%), etc, no relief measures have been announced in the Budget.

Dr Srinivasan mentioned that the industry was demanding for reduction in import duty on cotton from 10% to 5%, exemption of cotton from special CVD, withdrawal of 1% drawback extended for cotton export, refund of local levies, reduction of customs duty and excise duty on manmade staple fibre from 7.5% to 5%, withdrawal of customs duty on furnace oil imports for captive consumption by textile industry and reduction in mandatory excise duty, withdrawal of customs duty on textile machinery except spindles, etc, in order to compete with the countries like China, Pakistan, Bangladesh, Sri Lanka and Taiwan, which have competitive edge over India.

He further stated that demand of the industry in respect of one year moratorium period for repayment of loans and interest to prevent many textile units becoming NPA, has also not been considered in the budget announcement. He pointed out that the government has alsofailed to compensate the run away appreciation of Rupee against US Dollar.


Must ReadView All

AAFA hails passage of Miscellaneous Tariff Bill in US House

Apparel/Garments | On 24th Jan 2018

AAFA hails passage of Miscellaneous Tariff Bill in US House

The American Apparel & Footwear Association (AAFA) has applauded the...

India’s yarn, fabrics, made-ups imports rise 20% in Dec

Textiles | On 24th Jan 2018

India’s yarn, fabrics, made-ups imports rise 20% in Dec

India’s imports of yarn, fabrics and made-up articles during December ...

India’s Liberty Shoes plans adding 50 stores by 2019

Apparel/Garments | On 24th Jan 2018

India’s Liberty Shoes plans adding 50 stores by 2019

Indian footwear major Liberty Shoes is preparing to open about 50...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

January 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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