The budget by new government definitely seems to be a step in the right direction. Allocation of Rs 10,000 crore for promoting entrepreneurship is a surprise
Month: July 2014
The overall sentiment in the industry post the budget is very positive; it is a very business-friendly budget. We would like to congratulate the Finance Minster on putting together the vision of the new government on the critical sectors of the economy.
The budget by new government definitely seems to be a step in the right direction. Allocation of Rs 10,000 crore for promoting entrepreneurship is a surprise but a welcoming initiative.
Currently India faces a 9-10% duty disadvantage in Europe as compared Pakistan and Bangladesh. Also, transaction costs in India are high.
Reduction in excise duty on man-made staple fibres of Chapter 55 and filament yarns of Chapter 54.
Interest rates to be capped at 7% for exporters. Expansion of interest subvention scheme to the entire MMF textiles sector. Best FTA treatment to SEZ units. Special Additional Duty (SAD) on MMF. 4% SAD on all man-made fibres should be abolished.
A two-day certificate course on advances in testing of textiles and apparels was organised by Kumaraguru College of Technology, Coimbatore, jointly with the Department of Fashion Technology. This course exclusively benefited the students from textile institutions.
ITAMMA was the only Indian association that participated in the 12th edition of INDO inter TEX 2014, the Indonesia International Textile and Garment Machinery & Accessories Exhibition, organised jointly by PT Peraga Nusantara Jaya Sakti