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Keynote for Growth
Bouquets have virtually flooded the corridors of the Modi Government for having presented a Budget that has pleased many. Industry has unitedly hailed the positive notes of the measures that have been introduced on all fronts,
Clothiers hail growth-oriented Budget
On behalf of the Clothing Manufacturers Association of India, representing over 2,000 manufacturers and 15,000 retailers, I would like to congratulate the Finance Minister for his balanced, growth oriented, and manufacturing friendly budget presented.
Budget Expectations of Textile Industry
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.
SOS to Textile Minister
The SRTEPC has played a transforming role over the years in promoting exports of Indian Man-made fibre textiles. Exports of these items which were negligible in the 1960s, have grown substantially to touch Rs. 34,518 crores (US$5.75 billion) during 2013-14.
Sops for textile machinery
The Government of India has reduced the Central Excise Duty by 2 per cent on textile machinery besides increasing the allocation under the Technology Upgradation Fund Scheme (TUFS)
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