Textile Industry is struggling due to very high cotton prices and interest rates. We need immediate redressal of these issues from the govt in the budget by the following measures:Interest rate subvention which was removed for most textile segments in 2010 budget should be restored immediately without any exceptions.
TUF which was suspended in May 2010 should be immediately restored and proper Funds should be allocated to meet the existing liability - Mills are getting funds with a 9 months delay and this is creating liquidity and interest burden.
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Textile Industry is struggling due to very high cotton prices and interest rates. We need immediate redressal of these issues from the govt in the budget by the following measures:
ReplyDeleteInterest rate subvention which was removed for most textile segments in 2010 budget should be restored immediately without any exceptions.
TUF which was suspended in May 2010 should be immediately restored and proper Funds should be allocated to meet the existing liability - Mills are getting funds with a 9 months delay and this is creating liquidity and interest burden.
Proper funds should be allocated for Skill Development and Upgradation of Labour Force
NREGA needs to be worked so that adequate Labour is available for the industry. The current format is leading to shortage of manpower which is impacting production and growth
Drawback/DEPB benefits were withdrawn on an ad-hoc basis from yarn in April 2010. They should be restored to old levels.
Import duty and excise needs to be bought down as due to high duty structure the man-made textiles is more expensive and is unable to cater to the needs of the poor man. Cotton prices are very high and poor man needs relief which is possible by bringing down duties for man-made/synthetic items.