The current budget for 2015-16 is considered as growth oriented by various experts, but I think for textile Industry, it is not very promising budget. The Government´s vision of growing Indian textile and apparel industry to US$ 220 billion by 2020 needs more support and schemes from government. Unfortunately major demands of Industries have not been met in current budget.
Browsing: Industry Update
Since the government has included textile and textile equipment manufacturers under the ´Make In India´ programme, there were high expectations for help from the budget for achieving its high potential for increasing industrial production, generating additional employment and improving export earnings. Budget brings no cheer to either of the industry.
The Indian Textile Accessories & Machinery Manufacturer´s Association (ITAMMA) organised a seminar on ´Union Budget 2015 ´ Proposals related to direct & Indirect Taxes´ on March 4, 2015 at MC Ghia Hall, Mumbai. S Senthilkumar, President, ITAMMA, gave a welcome speech.
The new government is on the right path with ´Make in India´, but I just hope that the idea is carried forward with concrete steps in the upcoming budget. The budget should boost the domestic SME´s and encourage their growth.
Cotton Council International is organizing an Invitation-only Seminar Evening on April 10, 2015 at Trident Oberoi, Mumbai. The Seminar will offer useful insights on the global scenario of cotton and the cotton 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.
The highest ever attended Inter-textile Shanghai Apparel Fabrics ? Spring Edition 2015 concluded last week with huge increases in both exhibitor and visitor figures as the fair took place for the first time at the National Exhibition and Convention Centre (Shanghai).