Shahlon Silk Industries, a leading fabric and manmade fibre company in India, is expanding its geographical reach to cater to more markets as the demand for textile products is showing excellent strength in both domestic and international markets.
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On February 1, Nirmala Sitharaman, Union Finance Minister of India introduced the Indian budget for the financial year 2021-22.
Sanjay Garg, President NITMA , welcomed the proposal of Union Budget 2021-22 as the grant to textile and clothing sector is budgeted at Rs 3,631.64 crore which is about 10 per cent higher than previous year’s revised budget of Rs 3,300 crores in 2020-21.
Finance Minister Nirmala Sitharaman began her 2021 budget speech in New Delhi with a quote by Rabindranath Tagore. FM Sitharaman said, “Faith is the bird that feels the light and sings when the dawn is still dark.â€Â
10 per cent import duty on cotton is a severe blow for cotton textile value chain.
SIMA appeals PM for withdrawal.
The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman presented the Union Budget 2021-22 in parliament today, which is the first budget of this new decade and also a digital one in the backdrop of unprecedented COVID-19 crisis.
Improving consumer confidence levels, pick up in discretionary spending and opening up of economies are assisting Indian textile companies to tide over the COVID 19 pandemic with continued rise in demand.