'Along with nonwovens, focus on decentralised sector too' – Textile CEO
With Dr Manmohan Singh and his team ready for a second innings at the Centre, expectations of getting more support from the Centre to strengthen the entire textile value chain are soaring high among the industry players. Fibre2fashion spoke to a cross section of leaders from across the textile industry to learn their views.
First we spoke to Mr Pramod Chaudhary, Managing Director of Pratibha Industries, who said, “We have a lot of expectations from the new government and above all it's a stable government headed by Mr. Manmohan Singh who himself is a good economist”.
He continued, “Reforms will pick pace in all the sectors, proper implementation of taxes, labor laws and improvement in infrastructure will speed up and power sector will be developed”.
“Government should just focus on imports of finished goods. Anti-dumping duty is imposed on import of yarn, but when it comes to finished goods, they are brought in very easily, thereby, hindering domestic market. Tax rates should be reduced and income tax slabs should also be increased”, he concluded by saying.
Next we spoke to Mr Vijay Kumar, Managing Director of Prakash Textiles who replied by saying that, “I expect stability in prices of raw material which have been fluctuating since last several months and also free availability of raw material and since polyester prices are high in India, I am hoping for betterment in polyester cotton and blended market”.
He ended with a word of advice for the government, by saying, “Government till now was focusing on non-woven sectors only, but it would be really great if technical advice and expertise is provided to decentralized sector, which can help it to rise above current levels”.
Mr. Lalit Gemavat, CEO, of Bhairav Clothing Company Pvt Ltd, has this to say. “We expect a lot of things from the new government, like liberalization of foreign investment, reducing bureaucratic hurdles, unnecessary taxation should be removed and free movement of material should be allowed across the globe which may not involve much of paper work, but will save valuable time of an entrepreneur”.
S.K.Bhandari, Chairman, Bhandari Udhyog Limited, said, “We must be thankful to Indian people for bringing a stable government into power as this will help in development of social and industrial sector in all the directions and investment will flow & if monsoon will be good we will overcome all the difficulties”. Amongst his demands were, Government should reduce interest burden, reforming of labour sector& ensure proper supply of electricity.
Finally we spoke to Mr. Shiv Kanodia, Director of Kanodia Fabrics, who did not seem to have much expectations and made it clear by saying, “There will not be many changes in policy, since previously too, it was the same government. They took strong decisions earlier and we expect the same and I do not expect much difference to the economy”.
Fibre2fashion News Desk - India