Excellent Hair Fall Treatment
Search: Look for:   Last 1 Month   Last 6 Months   All time

Gujarat textile traders pin hope on government's annual budget

Surat, Fri, 26 Jun 2009 ANI

Surat, June 26 (ANI): Textile traders in Surat, who are hit by global recession, high bank interests and soaring cotton prices, hope for some relief in the government's annual budget which is scheduled to be presented on July 6.


The textile industry of Surat has been feeling the heat of global financial crisis with export orders going down.


The industry used to be flooded with orders round the year and small units were busy expanding their operational capacities to meet the increased demand. However, this does not seem to be the case any more.


Anil Bhagwani, a garment exporter said that the Central Government should make special provisions for the export of garments.


"Our expectation is that right from the yarn weaving till the market, where finished garments are sold, the government should give more subsidy and as far as the finished garment is concerned, the government should make provisions for export so that the garment business flourishes," Bhagwani added.


Devkishen Mangani, spokesman for Textile Association, Surat, said that the audit limit, fixed by the Central Government at rupees 40 lakh must be increased to rupees two crores for the benefit of small traders.


"Our biggest demand is that around 20-25 years back, the Central government had set the audit limit at rupees 40 lakh and till now it's the same and has not been increased. If it's not increased, the small traders will not be able to progress. So we demand that it should be increased to two crores and also the Income Tax relaxation should be fixed at rupees three lakhs so that the small traders can come forward," Mangani added.


The Indian textile industry is one of the largest employment generators in the world.It is also one of the largest textile industries in the world second only to China. (ANI)


Read More: Surat

King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
PM Modi paying tributes at the portrait of Sardar Vallabhbhai Patel
People take part in the Run For Unity on the Rashtriya Ekta Diwas
PM Modi flagging off the Run For Unity on the Rashtriya Ekta Diwas
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image




Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.