Tiruppur Exporters' Association (TEA) president Raja M Shanmugham has welcomed the Union Budget 2020-21 presented by finance minister Nirmala Sitharaman in Parliament today.
The textile and clothing industry has welcomed the announcements in the Union Budget calling it growth-oriented and positive.
The notification on revision of drawback schedule will come into effect from February 4, 2020.
Abolition of anti-dumping duty on PTA (Purified Terephthalic Acid) is a step in the right direction, say textile industry sources.
Coimbatore, Feb 1 : Captains of various sectors of industry Saturday welcomed the Union budget and provided suggestions to the finance minister, Nirmala Seetharaman.
The Union Budget 2020-21 has earmarked an all-time high allocation of Rs 7,572.20 crore for the Ministry of Micro, Small and Medium Enterprises while announcing a string of initiatives for the sector including raising the turnover threshold for audit of their accounts to Rs 5 crore and a scheme to provide subordinate debt to MSME entrepreneurs.