The clothing manufacturers association of India (CMAI) has welcomed the Rs 6,000 crore package for the textile industry saying it has removed some serious irritants that had been pulling back the country's garment industry for a long time.
Congratulating Prime Minister Narendra Modi and Textiles Minister Santosh Gangwar, CMAI President Rahul Mehta said in a press release that that Wednesday’s announcement had “unshackled” the garment sector and the results would be seen by way of more jobs and higher exports.The clothing manufacturers association of India (CMAI) has welcomed the Rs 6,000 crore package for the textile industry saying it has removed some serious irritants that had been pulling back the country's garment industry for a long time.
Congratulating Prime Minister Narendra Modi and Textiles Minister Santosh Gangwar, CMAI President Rahul Mehta #
"The announcements have unshackled our garment Industry and the results will be evident not only by way of additional employment generation but also additional exports", he said.
Mehta observed that inclusion of state level taxes in the computation of duty drawback will address a long standing demand of the garment industry and would provide a major relief to the export segment.
Commenting on the new employee provident fund norms about Government bearing the whole PF burden of the industry and making PF optional for employees earning less than Rs.15000 per month, would help the industry immensely. Increasing the overtime cap is another measure that will benefit both employers and employees, Mehta said.
The provision on fixed time employment would help the industry in making seasonal adjustments in the workforce that had been another long standing demand of garment manufacturers.
Other measures welcomed by CMAI are increase in the TUFS subsidy by 10 per cent and the provision for Drawback on garment exports from duty-free fabrics, to the extent of duty paid inputs used in such exports.
“The Prime Minister and Textiles Minister deserve our genuine thanks and compliments for these new initiatives,” Mehta said. (SH)
ALCHEMPro News Desk – India
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