Encouraging budget for textile, says Tayal, Chairman, KSL
Mr Saurabh Kumar Tayal, Chairman, KSL
Saurabh Kumar Tayal, Chairman - KSL Realty & Infrastructure Ltd, gives his post-budget comments to Fibre2fashion.
According to Tayal, the budget was encouraging. It was good for the entire industry, as far as the textile industry concerned. Regarding TUFS is one of the major announcements.
Provision of textile parks which have been extended to 180 to 4.25 crore.
Announcement of 26 textile parks.
Central sales tax which has been reduced to 3 percent is also welcoming.
Introducing national goods and service reduction in duty of polyester, fiber, yarn from 10 to 7.5 percent is good.
Raw material duty has also reduced from 10 to 7.5 percent would prove to be benefit to the industry.
When asked about how Indian textile industry will be able to trade globally across world, Tayal replied that they are in a very bullish for Indian textile industry.
In textile they get 5 percent subsidy so they can become comparable for world, i.e. if they invest 10 percent in the textile world market, they are getting 5 percent subsidiaries so Indian industry will have to invest upto 5 percent only as there is subsidiaries available for rest of 5 percent. This proves benefits to Indian industries.
Thus we can compete in the world market. We will able to generate more exports, more employment will generate good foreign investment.
Fibre2fashion News Desk - India