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.
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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.
Indian economy continues to grow multi- fold and so has the challenges that it beholds. As compared to the situation in the last decade, this industry has come a long way in improving the intra logistic practices and we witnessed the same in 2014.
The taxation of goods and services in India has hitherto been characterised by multiplicity of rates and this has left the industry and service providers at a disadvantageous position in the global market.
The technical seminar, organised by Oerlikon Group in Daman, underscored the wider scope of manmade fibres in India. ´China will for the first time slowly change from planning industry principle to market-driven principle. Secondly, focus of China´s textile industry is more on domestic market development.
The textile legacy in the Bhilwara region is fighting a battle to sustain its existence in the rapidly changing global dynamics. Garima Pant explores the ground reality.
The new Modi Government seems to really mean business. The Textile Draft Policy, which is very comprehensive, signals the governments serious intent towards the textile industry.