Related Keywords: budget and textile, Confederation of Indian Textile Industry, excise duty on manmade fibre, excise duty on textile filament, Indian textiles, prem malik, Southern India Mills’ Association, Union budget 2015
The Union Budget 2015-16 has nothing for the Indian textile industry as it failed to consider the demands put forth by the industry. The industry has expressed disappointment over the budget announcements as the major demands have not been met.
The industry’s wish list submitted prior to the Budget announcement included:
Cut in duties to ensure that raw material costs, cost of converting raw material into finished goods as well as the tariff are less than or equal to international prices,
Reduction in excise duty from 12 per cent to 6 per cent, and
