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:
Along with the specific measures noted above, the focus on infrastructure, skill development, and overall growth, is praise worthy, and needs to be applauded.
- 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.