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Textile expectations from Union Budget 2007-2008

26
Feb '07
Fasiha Shaikh
Continuation of Textile Upgradation Fund Scheme (TUFS) is very much under speculation what with Finance Minister P. Chidambaram expected to make some announcement on the same.

Fiber2fashion contacted Fasiha Shaikh, Textile Analyst at Angel Broking and she expressed the following views:

- There are varied expectations in terms of continuation of the TUFS.

- We believe that the spinning sector has made sufficient advancements and capacity additions by taking advantage of the interest subsidy provided by TUFS and therefore it may not be impacted negatively in case of complete withdrawal of TUFS.

- However, the weaving and processing sector still needs the benefits of subsidy and expect that the scheme be continued for this segment as integration and development at the higher end of the value chain will help the country to capture international market share and result into true growth for the sector as a whole..

View Post Budget Comment.

Budget 2007-2008 favourable for textile players, Fasiha Shaikh


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