The most important change that the garment industry is looking forward to will be the removal of the Central Sales Tax. Sending his pre-budget comments to Fibre2fashion, Nikesh Jain, CFO, Kewal Kiran Clothing said this will enable the garment industry to retail their products more efficiently. It will reduce the transaction cost.
The continuation of the TUFS scheme will also be a big boost for the textile manufacturing sector.
Further, the Government should look at establishing more Apparel Parks across the country to complete the value chain from fabric to apparels in all regions.
He also welcomes simplification in the advance license procedure, with flexibility in input-output norms and building a Brand India abroad.
The outlook is very positive for the sector: consumer demand is expected to go up, riding on economic development, and the retail and information revolution.
Fibre2fashion News Desk - India
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