At a time when India is strengthening its manufacturing base, the Union Budget should place focused emphasis on empowering MSMEs. A PLI 2.0 scheme tailored for MSME manufacturers, along with enhanced technology upgradation subsidies, would enable companies to modernise machinery and improve global competitiveness. Additionally, rationalising import duties on cotton and synthetic fibres and correcting the inverted GST structure will help lower input costs and unlock much-needed working capital, allowing the textile and apparel sector to scale sustainably.
This view is presented by Vinod Kumar Gupta, Managing Director, Dollar Industries.