Tirupur: The Union Budget has disappointed apparel industrialists. 

President of Tirupur Exporters’ Association Raja M Shanmugham said, “We expected that the central government would either reduce or withdraw GST on job working knitwear units as they were struggling. But the budget did not have any mention on it. The industry has set an ambitious target in annual export and domestic turnover of Rs 1crore, but the government did not make any positive announcements for achieving it.” 

“Textile industry is one of largest industries in providing employment in the country. But the government has failed to give needed attention to it,” he added. 

President of Tirupur Exporters and Manufacturers Association SP Muthurathinam said, “The MSMEs were backbone of Tirupur apparel cluster as they constitute 90% of the cluster. Moreover, this region hosts majority of spinning mills in the country. The government should have given proper attention to the cluster.” 

Meanwhile, Apparel Export Promotion Council vice-chairman A Sakthivel welcomed various announcements. “The government has extended 25% corporate tax cut from cap of Rs 250crore turnover to Rs 400crore,” he said. 

Published On : 06-07-2019

Source : Times of India