Home / Knowledge / News / Textiles / Impact of budget proposals on textile industry by Surinder Anand

Impact of budget proposals on textile industry by Surinder Anand

21
Mar '07
Impact of Budget proposals on textile industry by Surinder Anand:

Although, the Finance Minister, Mr. P.Chidambaram, has dexterously handled the tedious task of striking a balance between the needs of development and social and political compulsions of the present economic situation, and has taken steps to achieve the objective of boosting economic growth and employment generation, the exporting community feels being left in the lurch without an adequate fiscal relief in the Budget proposals.

While giving emphasis on agriculture, social sector, education, health and infrastructure, the industry and trade, unfortunately, have been neglected. The Budget, presented in prevailing environment of strong economic growth and buoyant investment climate, though, expressed concern at the rising inflation rate.

The Budget 2007-08 has given more importance to the rural sector of the economy so as to improve the investment in agriculture and rural infrastructure but there are some important issues which have remained untouched, especially the promised Labour Reforms with flexible Labour Laws so crucial to achieve the substantial employment potential for seasonal garment industry.

We have, time and again, failed to update and revise our Labour Laws, which continue to seriously restrict exporters to 'hire and fire' labour when required. In In India, garment export is season-ridden. There are long no-work periods during which the exporters have to maintain and pay the labour force. The garment export industry, therefore, badly needs flexibility to adjust workforce in tune with the changing demand patterns, which depends on changing fashions, product life cycles and competitions.

While discussing the Indian economy, it is often forgotten that there is a close link between economic, industrial and labour policies. If sweeping changes made in one sphere are not followed up by corresponding measures in others, the whole purpose of so called pragmatic policy planning gets defeated.


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Sep 2021

EU extends GSP plus status for Pakistan with 6 new conventions

The European Union (EU) has extended its general system of...

Pic: Shutterstock

Apparel/Garments | On 25th Sep 2021

Bangladesh seeks Russian support for ensuring direct exports there

Bangladesh commerce minister Tipu Munshi recently sought Russian...

Pic: Boris-B / Shutterstock.com

Retail | On 25th Sep 2021

US’ Halloween spending to reach $10.14 bn this year: NRF

Consumer spending in the US on Halloween-related items is expected to ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Dr. Sean Blamires, Evolution and Ecology Research Centre

Dr. Sean Blamires
Evolution and Ecology Research Centre

Using spider silk for clothing may not seem to be an attractive...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search