Textile industry expects new schemes in Union Budget 2015

23 Feb '15

6 min read

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Infrastructural hurdles and procedural delays in exports are the roadblocks that need to be assessed in the upcoming Budget, says Rajesh Tripathi. Creation of mega textile parks, single window system for FDIs, and an extension in loan period in case of TUFS are certain other policy measures which require the government’s attention, he adds. “The government needs to address labour reforms in this Budget which has been much awaited while the competition becomes stiff against our neighbouring countries like Pakistan, Bangladesh, etc,” Tripathi says.

Vineet Lall, director of Modelama Exports, emphasises on having a long-term consultative skill development policy, while Ashish Dhir, founder director Wisedge Consulting, says labour reforms should be number one priority of the government for further growth of the textiles industry.

Giving a unique suggestion, Avinash Mayekar, MD and CEO, Suvin Advisors, says the textiles ministry should come out with “success-based incentive schemes”. He explains, “Whoever brings more earnings or provides employment should be incentivised by the government. According to Aditya Chandavarkar, founder and CEO of Inkjet Forum India, there is a need to create a common platform to educate and train the industry about new technologies so that the industry is ready to adapt.

Reminding that India has a rich tradition of handlooms, Laila Tyabji, founder member and chairperson, Dastkar Society for Crafts & Craftspeople, says the Union government should focus on promoting cultivation and production of cotton, mulberry silk, linen and tussar “so that our extraordinary handloom weavers can always keep their looms working”.

Manish Saksena, advisor with Tommy Hilfiger and Amazon India, feels, “The only bottleneck that many skilled craftsmen face is the funds and investment issue. If there was a better mechanism of funds rotation for them, it will enable a lot more influx of exciting products in the market.”

Arindam Saha, associate director, Wazir Advisors, points out three to-do things for the government: “Bring fibre neutrality through duty rationalisation till GST comes into effect; facilitate industry to focus on innovation; focus on bringing FDI to the textile sector.”

Report: Mary Christine Joy

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