According to the Southern India Mills’ Association (SIMA), the import duty on raw cotton would erode the competitiveness India’s value-added segments that has a business size of around Rs 50,000 crores in exports and Rs 25,000 crores in the domestic market.
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According to the Southern India Mills’ Association (SIMA), the import duty on raw cotton would erode the competitiveness India’s value-added segments that has a business size of around Rs 50,000 crores in exports and Rs 25,000 crores in the domestic market.
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.
The overall proposed structure to revive rural consumption and rural development in the Budget is likely to give an indirect impetus to the textile industry.