Disappointed with Budget, Textile Industry Calls For Customs Duty Revisions
Updated: Feb 02, 2024 02:43:39pm
Disappointed with Budget, Textile Industry Calls For Customs Duty Revisions
New Delhi, Feb 2 (KNN) The textile industry has expressed a sense of dissatisfaction regarding the unaltered import duties announced in the interim budget on Thursday.
Numerous industry associations have expressed the need for corrective measures regarding various issues faced by the sector, as reported by TH.
R.K. Vij, General Secretary, PTA Users Association, expressed the industry's expectation for corrective changes in customs duty for fabrics.
He emphasised the need for necessary adjustments in the full budget, including the rationalisation of Goods and Services Tax (GST) rates for the manmade fibre sector.
S.K. Sundararaman, Chairman, Southern India Mills’ Association, called for the consideration of textile industry demands related to raw material issues and other industry concerns in the comprehensive budget.
Sanjay Jain, Former Chairman, Textile Sector Skill Council, criticised the budget for lacking major supportive measures for the industry.
He highlighted the absence of changes in Import Duty on cotton and fabric imports.
K.M. Subramanian, President, Tiruppur Exporters Association, expressed disappointment over the absence of any announcements related to the textile sector in the budget.
He hopes for supportive measures to be introduced in the final budget.
(KNN Bureau)