Related Keywords: benefit predominantly cotton based textile industry, chairman of SIMA, cluster approach for contract farming, considers the Union Budget, enable textile manufacturing sectors, grow at a faster rate, growth oriented, Indian textile sector, M Senthilkumar
The Indian textile sector considers the Union Budget 2017-18 to be growth oriented as it will enable the textile manufacturing sectors to grow at a faster rate. M Senthilkumar, chairman, The Southern India Mills’ Association (SIMA) said that the cluster approach for contract farming would greatly benefit the predominantly cotton based textile industry.
However, the main demand of the association of continuing the existing tax structure including the service tax and optional Cenvat route extended for textile industry till the GST is implemented has been considered in the budget.
