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Industry resiles big hopes to be met by Budget-2011

26 Feb '11
4 min read

Our team approached Mr Rajendra Hinduja – MD of Gokaldas Exports Ltd, who being realistic, in a candid gesture as always, replied “Frankly speaking, I don't expect much from budget on current exports front. The way indications have been given down the line, I don't think much would be offered on drawback or on subvention areas. These two are only areas that people are anticipating. But, I don't think any direct tax advantages would be given. However, some extra funds release under TUFS scheme can be expected along with TUFS resuming back. Nevertheless, on transaction side from the drawback angle or subvention angle, I see only TUFS will be resuming with some allotment norms may be added to it.”

Mr Lalit Kishore, MD, Loto India – the popular sportswear brand, says that to him it appears that GST implementation and reduction of import tariffs will go a long way to rationalize the pricing structure in Sportswear and to give a further boost to the rising consumption demand from Indian young generation.

Fibre2fashion News Desk - India

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