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

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.

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.

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.

The Narendra Modi-led government recently elected Santosh Gangwar as the Minister of State for the Ministry of Textiles. He was educated in Rohilkhand University, Bareilly and at University of Agra.

The Southern India Mills´ Association (SIMA) representing the organised textile industry in South India is organising SIMA Texfair 2015, 9th edition in its series and also SIMA Farm to Finish Expo 2015, 2nd edition in its series during January 9-12, 2015 at CODISSIA Trade Fair Complex, Coimbatore.

Three big challenges were highlighted by Dr Bryan Haynes, Director, Global Enterprise Research and Engineering, Global Nonwovens, Kimberly-Clark for effective utilisation of nonwovens in the medical and consumer product sectors.

Arvind OG Nonwovens Private Limited (AOG), a joint venture between Arvind Ltd (India) and OG Corporation (Japan), opened its manufacturing facilities near Ahmedabad, Gujarat, on 31 May 2014 at an investment of about Rs 50 crore.