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Web Exclusive | July 2014

Clothiers hail growth-oriented Budget

Rahul Mehta, President, The Clothing Manufacturers Association of India

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.

From the apparel Industry perspective, I would particularly like to compliment the FM and thank him for the following:
  • Maintaining the status quo on the optional excise duty front;
  • Announcing the six additional textile zones;
  • Increasing the duty-free imports of trimmings from 3-5 per cent against exports of garments;
  • Major push for promotion of handloom products;
  • Promise of speeding up the introduction of GST regime, probably by the end of 2014; and;
  • Measures to encourage the SME sector, which forms the backbone of the domestic apparel industry.
Along with the specific measures noted above, the focus on infrastructure, skill development, and overall growth, is praise worthy, and needs to be applauded.
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