Good news to those who want to invest in textile industry in India.
With new textile policies, the industry experts hope that the proposed new textile policy is going to be a boon to the existing textile manufacturers and those who wants to invest as a fresher in textile industry domain.
The policy will address:
- Concerns of adequate skilled force
- Labour reforms
- Attractive investments in textile sector
- A perfect road map for textile and clothing industries
“The new policy is set to achieve a 300 billion US dollar textile exports by 2024-2025 and create 35 million jobs.”
And the industry feels the expectation can be achieved pretty easily.
- Ravi Chechani of Aditya Birla said, “There should not be any bifurcation in duty structure of cotton and synthetics (polyester, viscose etc.) in the entire value chain from fibre to fashion. And if we have to grow, it is very important that the level should be same for all fibres.”
- Easy funding is always have a spot in industry’s wishlist. “Whatever subsidy applicable should be allowed to be applied online by the applicant”. There should not be any intervention by the bank so time can be saved to do creative work like development of the business. This whishlist has been partly granted by the policy, but you have to fetch a necessary certificate from the bank is to be demanded to ensure proper utilisation of subsidy. The release of fund has to be fast is what the whole statement was about.
The industry is also expecting a uniform import duty for the industry related materials.
- Marketing your end product has become easier with sites like snapdeal, myntra etc.
Recently snapdeal had a successful tie up with CCIE!!!!!!!!!!
“Uniform import duty structure for spare parts for textile machinery will make life simple for the government, customs and customers and will reduce corruption to clear consignments under different nomenclature and heads”, a spokesman of a machinery company said.”