Textile industry has its hopes high for Budget 2020

Textile industry has its hopes high for Budget 2020

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By Madhu Sudhan Bhageria

"Textile industry has high hopes from Union Budget 2020.  Growth in textiles is through 'Man Made Fibers'. Govt. has to remove hurdles for accelerating growth of MMF. Inverted Duty structure in GST needs to be corrected. Anti Dumping Duty on raw materials – PTA has to be abolished to ensure adequate raw material availability at international prices.  Prevention of duty-free access of garments from Bangladesh and Srilanka and Import duty on yarn to be increased to make domestic production competitive."

(The writer, Madhu Sudhan Bhageria, is the Chairman & Managing Director of Filatex India)