Surinder Anand, Executive Secretary of Garments Exporters Association told Fibre2fashion, “Tex summit was very successful because the leading garment and textile exporters were able to present their issues and concerns in front of the Government officials, economist, political leaders and decision makers. Prime Minister Manmohan Singh himself blessed the summit with a motivational concluding speech. Summit was also addressed by the Union Labour Minister as well as Commerce & Textile Industry Minister, Kamal Nath.”
He said that this was a perfect opportunity for textile industry to get the attention of the concerned authorities and make them aware of the persistent problems and obstacles. Anand added, “This was an opening, especially for the exporting community, which is facing several problems because of continued increase in value of rupee.”
Various other factors highlighted during the summit were hardening of interest rate, rigid and outdated labour laws, poor infrastructure, hike in rates of power that increased the production cost and recent slow down in US & EU economy.
Anand explained, “Rupee if goes any higher, would hit the exporters badly. There is the need for better co-ordination between the ministries of textile, commerce, industry, finance. So far, recommendation from Ministry of Commerce & Textile to exempt exporters from service tax has not been implemented by Finance departments. Fiscal relief is urgently needed by exporting community. However, PM urged finance, commerce & textile to seat together, discuss & resolve the pressing problems at the Texsummit. Thus, we are hoping that with these blessings exporting community will get the required boost.”
Fibre2fashion, News Desk - India
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