With only one day left to Union Budget 2007-2008, industry people are anticipating what might come out from Chidambaram's briefcase.
Rajiv Taneja, MD, Evinix gives his comments exclusively to Fibre2fashion.
He expects reduction or abolition in excise duty as fashion accessories like handbags and caps are very costly, Indian companies are facing difficulty to compete with China.
Presently excise duty is 16.32 percent. If duties are not reduced, small scale industry and manufacturers will find it difficult to survive. Duty should be reduced on supply of yarn as well as woven fabric.
TUFS should be extended even for garment manufacturers. Presently all eyes for import duties that are going to be announced tomorrow.
Fibre2fashion News Desk - India
marketing@alchempro.com
