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Duty cut on PFY & staple fibres to promote technical textiles, Gupta

01
Mar '07
Samir Gupta, Managing Director, BCH
It has always been a pleasure to express views to fibre2fashion.com, said Samir Gupta, MD, Business Co-ordination House (BCH) while giving his comments on the Budget 2007-08.

The budget for 2007-08 is in line with our expectations.

Reduction in customs duty on polyester filament yarns and staple fibres from 10 to 7.5 percent will aid in the promotion and growth of the Technical Textiles industry as products get cheaper and competitive in the export markets.

The extension of the TUF scheme and the incremental allocation therein is a step in the right direction.

Allocations of funds to the Scheme for Integrated Textiles Parks will facilitate setting up of dedicated textile hubs.

Uniformity of the excise duty on textile machinery is a welcome step.

The focus on infrastructure, agriculture, water management and climate change will surely boost the demand for these high tech textiles.

Investments in R&D and education in the sector will also get a boost.

We thank the Ministry of Finance& Textiles for giving due consideration to our proposals.

Fibre2fashion News Desk - India


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