New Delhi, June 25 (KNN) As Union Budget 2019 is to be presented on July 5, Small and Medium Enterprises (SMEs) from Indian textile & apparel industry are hoping for more pro-industry measures that may further help small businesses in overcoming their challenges.

While sharing the expectations on behalf of SME & Indian textile & Apparel Industry, Creative Head & Founder AKS Clothings, Nidhi Yadav said “The performance of Indian textile and apparel industry is linked to the performance of many small and medium-size businesses which are vendors to big companies. They come in the un-organized sector, and lack of funding for smooth functioning is often a challenge to these labor-intensive companies.”

In the Interim Budget, the Government has taken many right decisions to help these small businesses. The industry is very optimistic that a single authority for sanctioning and processing GST refunds, which is expected to get implemented soon will help eradicate current complexities in the system and benefit all the small and mid-sized companies in the industry, she added.

She said “We hope more of such pro-industry measures that may further help small businesses in overcoming their challenges.”

With regard to e-commerce, she stated that Government should give full-fledged industry status to e-commerce and must draft separate and transparent policies for companies operating in e-commerce.

Moreover, as digitalization is the driving fuel for the entire economy, the government should allocate substantial funds to upgrade technology in this sector, she pointed.

Published On : 26-06-2019

Source : KNN India