Tirupur industry sees immense benefits coming their way out of the budget

YarnsandFibers News Bureau 2014-07-11 11:00:00 – Tirupur

The growth of the industries in Tirupur has also faced many problems in its journey in terms of industrial organization, city infrastructure, natural raw material sources, workforce organization, etc., and the industry has taken efforts at times to solve the problems. Tirupur Exporters’ Association president A Sakthivel has welcomed the NDA government’s maiden Budget as it would benefit the domestic textile manufacturing sector.

The announcement of setting up six textile clusters, including one in Tamil Nadu and also establishment of Export Promotion Mission, which was a long pending demand were welcome gestures.

Sakthivel welcomed considering the association’s requisition for increasing the duty free entitlement for import of trimmings, embellishments and other specified items from three per cent to five per cent of the value of their exports and also highlighted the removal of customs duty from five percent to nil for import of specified inputs required in manufacturing of spandex yarn will help reduce production cost.

While, the Tirupur Exporters and Manufacturers Association (TEAMA) president M P Muthu Rathinam said the announcements, including various schemes for the knitwear export sector, which will help the sector. However, he has put forward request to increase in allocation amount and their effective utilization

The president of South India Hosiery Manufacturers Association (SIHMA) A C Eswaran, commenting on the budget said that the announcements on creating new industrial cities, skill development, power supply, solar power generation schemes and various tax concessions would benefit for the over all industry’s growth.

The new budget would be of immense help to solve some of the existing problems to make Tirupur a much better place to flourish. With these problems getting solved, Tirupur is awaiting its next giant leap soon.

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