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Related Keywords: Bangladesh garment industry, Chinese textile industry slowing down, CITI chairman, Diversion of garment orders to India begins, enhance yarn consuming capacities, Indian textile industry need to scale up, make TUF effective, Natural Fibre conclave, Pakistan growth constrained, prem malik, reach saturation point, upgrade fabric industry

Diversion of garment orders to India has already begun with the textiles industry in China slowing down and Pakistan’s growth - constrained by power and other problems and the garment industry’s growth in Bangladesh – is expected to reach a saturation point sooner than later. There is therefore a need to scale up and upgrade our fabrics industry said Prem Malik, Chairman, Confederation of Indian Textile Industry at the inauguration of the Natural Fibre Conclave held at Chinniampalayam in Coimbatore on Wednesday.

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