- Mr. O.P. Lohia, Chairman and Managing Director of Indo Rama Synthetics (India) Ltd. along with a delegation met Textile Minister to apprise him of the current scenario of the Industry
- Highlights nothing substantial has been done in Budget 2015-16 for the Industry
- Raises concern over the diminishing quantum of exports of textile goods, requested the Hon?ble Minister to ensure that Textile Industry is kept in the lowest slab in GST
- The need of the hour is to focus on Textile Industry to boost production capabilities.
- Focus should be on export of textile apparel and garments so that the entire value chain in the Textile Industry is benefited.
- Minister assures the delegation to look into all these matters and to bring growth in the textile sector
Mr. O.P. Lohia, Chairman and Managing Director of Indo Rama Synthetics (India) Ltd. along with Mr. Madhu Sudhan Bhageria ? Vice Chairman & Managing Director of Filatex India Ltd. met Shri Santosh Kumar Gangwar, Hon?ble Minister of State (Independent Charge) for Textiles and Shri Sanjay Kumar Panda, Secretary ? Textiles on 20th March, 2015 in Udyog Bhawan, New Delhi along-with the delegation of Textile Industry to apprise the Hon?ble Textile Minister of the current as well as post budget scenario of the Textile Industry.
The Hon?ble Minister was apprised that while Textile Industry was expecting a strong focus from the Government, however, there was no mention of it and nothing was done in the Budget to improve the health of the Textile sector.
Man-made Industry was expecting reduction of Excise Duty from 12.36% to 6% but it was increased to 12.50% and the allocation of TUFF was also not there as per recommendation given by all Textile Industry Associations including FICCI, CITI, etc.
Mr. Lohia requested the Hon?ble Minister to ensure that Textile Industry is kept in the lowest slab in GST, which is expected to be in place by next year as it being the second largest employment provider in India.
In order to support the ?Make In India? Slogan of our Respected Prime Minister Shri Narendra Modi, he emphasized that the need of the hour is to focus on Textile Industry to boost production capabilities. Presently, Man Made Fibre requires special attention in textile sector as major growth, now in this sector, can come only from MMF. He stressed that if we do not focus now, other countries like Vietnam, Bangladesh, Indonesia, Pakistan will grow faster than India in this area.
Mr. Lohia expressed concern over the diminishing quantum of exports of textile goods for the last few months and looking at this dismal situation in Textile Exports, he suggests that we should now focus on export of textile apparel and garments so that the entire value chain in the Textile Industry is benefited.
The Hon?ble Minister assured the delegation to look into all these matters and to bring growth in the textile sector so that it can achieve its desired position both in domestic and export market.