Great step towards realising end goal of 'AtmaNirbhar Bharat'
The Indian textiles and clothing industry welcomed the Union Budget 2021-22 presented by finance minister Nirmala Sitharaman in Parliament on February 1. While the setting up of 7 mega textiles parks under MITRA and reducing duty on nylon raw materials were lauded by trade bodies, there was a mixed response to the 10 per cent import duty on cotton. Fibre2Fashion spoke to several industry stakeholders to know their overall views.
"It is a pragmatic Budget presented to address all sectors issues at a time when our economy is getting revived back to normalcy. The allocation of ₹700 crore for Amended Technology Upgradation Scheme (ATUFs) against ₹545 crore in last Budget will help to clear the pending capital subsidy."
Published on: 04/02/2021
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.