Related Keywords: big boost for the sector, cluster approach for contract farming, connectivity, end to end logistics solutions, help textile industry achieve USD three hundred fifty billion target, higher fund allocation for labour skilling, next few years, no major announcement, set by the union government, Textile Industry, Union budget, upgrade labour skill
The textile industry though did not see any major announcement in the Budget but higher fund allocation for labour skilling and end-to-end logistics solutions, including rail and coastal shipping last-mile connectivity, will help the country’s textile industry to achieve the $350-billion target in next few years as set by the union government.
However, continuing with the existing tax structure, including the service tax and optional Cenvat route extended for textile industry till the GST is implemented, has been considered as a big boost for the sector.
