Bhaskar terms Union Budget 2007-2008 'growth oriented' for textiles
Praising the Finance Minister P Chidambaram's Union Budget 2007-2008, HS Bhaskar, Managing Director, Forbes Gokak Ltd. informed that it was overall continuation of the past years policies that have earned laurels for country's textile industry, so far.
“Overall growth of the textile industry will be triggered with the continuation of TUFs and the rising retail sector,” said Bhaskar to Fibre2fashion.com over the telephone.
He said that reduction of the CST will also reap in major benefits for the industry which if translated for a Rs500 crore industry like theirs may translate into annual savings worth Rs2-2.5 crores.
He informed that specialty fibre importers like them will also stand to gain through the proposed budget.
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