Home / Knowledge / News / Textiles / Tiruppur exporters welcome people-oriented budget

Tiruppur exporters welcome people-oriented budget

Feb '20
Pic: Shutterstock
Pic: Shutterstock
Tiruppur Exporters' Association (TEA) president Raja M Shanmugham has welcomed the Union Budget 2020-21 presented by finance minister Nirmala Sitharaman in Parliament today. Stating that the budget is a people-oriented one, he appreciated the government's focus on three aspects—agriculture and farmer welfare, wellness, and education and skills.

He said the measures announced in the budget will help for overall development of economy. "The allocation of ₹100 lakh crore for investment in infrastructure will help to reduce the logistics cost as of now the poor logistics is one of the hindrance factors for attaining the export competitiveness by our units," he added.

Welcoming the announcement on proposal of setting up National Technical Textile mission with an out lay of ₹1,480 crore, he said it will boost the manufacturing of technical textiles in our country. He also welcomed the launching of a new scheme NIRVIK to achieve higher export credit disbursement, mainly to support small exporters. He further said that the step to give invoice-based loan from NBFCs will benefit MSMEs.

"The government's decision to ask RBI to consider for extension of MSME restructuring till March 31, 2020 is the need of hour to bail out the struggling MSMEs in Tiruppur," he said. Moreover, the digital refund of duties and taxes of centre, states and local bodies to exporters from this year will help to reduce time taken to refund the amount. Further, the removal of dividend distribution tax and rationalisation of personal income tax are bold steps and will help across the board.

Overall, the budget has allocated ₹3,514.79 crore to the ministry of textiles against allocation of ₹4,831.48 crore in 2019-20 budget. Of this, the fund allocation for Amended Technology Upgradation Fund Scheme (ATUFS) is only ₹761.90 crore, while the pending claims to the industry is ₹8,500 crore.

Fibre2Fashion News Desk (RKS)

Must ReadView All


E-commerce | On 19th Sep 2021

Switzerland commits $4.4 mn for UNCTAD’s e-com, digital economy work

Switzerland recently announced a contribution of $4.4 million to the...

Pic: Shutterstock/humphery

Textiles | On 18th Sep 2021

China wants to join CPTPP; Japan to consult members to respond to bid

Chinese commerce minister Wang Wentao recently submitted an...

Pic: Shutterstock

Textiles | On 18th Sep 2021

Eurozone GDP recovers quicker than expected after lockdowns: EU report

The eurozone economy recovered more rapidly than considered earlier...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Chendhuran Sundar,

Chendhuran Sundar

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

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Daniel Odermatt, Ventile

Daniel Odermatt

Ventile is a registered trademark used to brand a special high-quality...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

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

Advanced Search