Related Keywords: better market access to major markets, budget for next financial year, change in labour laws, CITI, Indian textile industry, lowering excise duty on MMF and filament, pitches for incentives, realize untapped potential, reduce the tax burden on MMF, second largest employer, via trade pacts
The textile industry, which is the country's second largest employer after agriculture, contributes nearly 14 per cent to industrial production and 4 per cent to the GDP has pitched for incentives such as lowering excise duty on man-made fibre and filament by half and changes in labour laws in the budget for next financial year.
The textiles industry has demanded better market access to major markets like the US and EU via trade pacts to help realize its untapped potential.
