;
Home / Knowledge / News / Textiles / FICCI suggests Growth Package for manufacturing sector
FICCI suggests Growth Package for manufacturing sector
19
Feb '08
In order to address the current slowdown in the Indian manufacturing sector, FICCI has suggested a growth package that includes recommendations for both short and long term.

According to FICCI Survey on Manufacturing Sector, while the slowdown in Indian manufacturing sector is not pervasive and has affected only some sectors, but it is a cause for concern. FICCI said that the slowdown may continue for some more time given the current economic scenario.

In its recommendations, FICCI suggested stimulating consumption/demand; reducing interest rates; no further cuts in custom duty on manufactured goods; relief package for exporters; increasing rate of depreciation; reducing corporate tax rate; appropriate raw material policies; capacity building of SMEs; improving regulatory environment; skill development and improving infrastructure as measures to boost the growth of manufacturing sector.

Almost 50% respondents in FICCI Survey reported slowdown in their sector in the last few months which has significantly affected the investment plans of manufacturers in some sectors.

FICCI Survey observed that investment plans have been affected in sectors like textiles, machinery components, electrical products, project equipments, machinery, pressure vessels, tanks, heat exchangers, thermal transfer equipments.

Besides investment plans, FICCI Survey noted that operating capacities have been affected to the extent of even 25% in the last few months vis-à-vis last year in a few manufacturing sectors like food processing, electrical products, chemicals & dyes, builders hardware, boilers, tanks etc as a result of slowdown.

Click here to view more:

Federation of Indian Chambers of Commerce and Industry


Must ReadView All

Courtesy: Lululemon

Apparel/Garments | On 16th Dec 2018

Lululemon’s net revenue up 21% in Q3 2018

Lululemon Athletica Inc, a healthy lifestyle inspired athletic...

Courtesy: Walmart

Apparel/Garments | On 16th Dec 2018

Rakuten, Walmart start Walmart ecommerce store in Japan

Rakuten and Walmart have joined hands to start the first Walmart...

Courtesy: H&M

Apparel/Garments | On 16th Dec 2018

H&M Group's wage summit discusses fair wages

The textile and fashion industries were brought together by H&M Group ...

Interviews View All

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


December 2018

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

news category


Related Categories:

Advanced Search