Home / Knowledge / News / Textiles / Budget evokes mixed reactions from textile sector
Budget evokes mixed reactions from textile sector
04
Mar '11
The Indian textile industry has delivered mixed reactions to the budgetary announcements made by the Finance Minister – Mr Pranab Mukerjee. While a few have welcomed provisions of duty cuts, they have also denounced it, due to expectations being not fulfilled.

Mr Shailendra Pandey, VP Marketing - Indian Rayon, does not see much change, other than the decrease in import duty for wood pulp by 2.5%, a major raw material consumed by viscose producers.

He considers this a good step from the government since, wood pulp prices have gone up sky high, it will help viscose producers a little bit, as duty cut is marginal. He was however relived that rumours going on since February of hike in excise duty have not been proposed.

On the other hand Mr Dilip Samsukha, Partner - Indian Silk House termed the budget balanced, since a long pending demand of reducing basic customs duty on raw silk (not thrown) has been met, since it has been reduced from 30 to 5 per cent.

He is of the opinion that, the duty cut will definitely reduce silk prices, since there has been an acute shortage of yarn, due two which, prices have gone up by 30-40% in the last six months and expects the silk industry to benefit in the long run.

Mr UK Gangopadhyay, Director - Synthetic & Art Silk Mills' Research Association (SASMIRA) does not notice any encouragement from the budget, but is also happy that, there is no negativity associated with the budget.

Mr Gangopadhyay is unhappy due to the fact that, whatever proposals had been put forward have not been accepted by the Finance Minister.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Thrace-LINQ expanding Dorchester County operations

Thrace-LINQ, a global supplier of fabrics for the textile industry,...

Courtesy: Levis

Fashion | On 26th Sep 2017

Google unveils smart denim jacket with Levi Strauss

Ending the months-long wait, Google has unveiled its smart denim...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

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

Kevin Nelson
TissueGen

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

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

Anisha Chaudhari
Threads & Shirts

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

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
75.5%
No
12.2%
Skip
12.2%

Total Votes: 49

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
63.3%
No
24.5%
Skip
12.2%

Total Votes: 49

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
87.8%
No
6.1%
Skip
6.1%

Total Votes: 49

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
71.4%
No
10.2%
Skip
18.4%

Total Votes: 49


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