Interviews
Budget has not addressed key issues - Fenner
29 Feb '08
1 min read
After the Union Budget of 2008-09, Fibre2fashion contacted Mr. Raju Natrajan Vice President of Fenner (India) Ltd, to find out how the far had the Budget met industry's expectations.
He stressed, "As far as textile is concerned Finance Minister has done very less, infact, has almost ignored this industry."
He said, "Only one benefit that has been offered is the increased allocation in TUF scheme. No changes have been implemented that would help cope with rupee appreciation and export duties." Mr Natrajan said that the Budget should have removed import duty on cotton, especially since, today cotton prices have already hiked 20 percent and are still rising uncontrollably.
Meanwhile, Fenner Vice President said that the 1 percent exemption in PFY was absolutely not needed, as it has had negligible impact on the market.
He stressed, "As far as textile is concerned Finance Minister has done very less, infact, has almost ignored this industry."
He said, "Only one benefit that has been offered is the increased allocation in TUF scheme. No changes have been implemented that would help cope with rupee appreciation and export duties." Mr Natrajan said that the Budget should have removed import duty on cotton, especially since, today cotton prices have already hiked 20 percent and are still rising uncontrollably.
Meanwhile, Fenner Vice President said that the 1 percent exemption in PFY was absolutely not needed, as it has had negligible impact on the market.
Fibre2fashion News Desk - India
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