Textile traders in the country’s largest man-made fabric (MMF) wholesale market in Surat are upbeat following the decision of the Central Board of Excise and Customs (CBEC) to keep saree out of the ambit of made-ups.
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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,
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,
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.
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 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.
Polyester filament yarn (PFY) has always posed various problems in India due to different lobbies from the textile industry acting in their own interests. A national fibre policy could have led the industry to a solution but so far, it has been only a far cry.