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Impact of Budget 2024-25 announcements on India's textile industry

25 Jul '24
23 min read
Impact of Budget 2024-25 announcements on India's textile industry
Pic: Adobe Stock

Insights

  • The Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, increases the textile industry's allocation to ₹4,417.09 crore (~$527.50 million), aiming to address fragmentation and high costs.
  • Key measures include enhanced funding for handicrafts and silk, duty reductions on essential raw materials, and significant support for agriculture.

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