From the office of Mr. B.K.Goenka, Vice Chairman & MD, Welspun.
Welspun welcomes the extension of Technology Upgradation Fund (TUF) scheme for another term. This will give fillip for modernization and bring in advanced textile technology to the country, which will directly help the country achieve its textile export targets.
Additionally, the reduction of peak customs duty rate from 12.5% to 10% on non-agricultural products would also be of benefit to the industry as a whole.
The reduction of customs duty on Polyester yarn (from 10% to 7.5%) would boost the PFY industry.
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