While the manufacturing units in Coimbatore have welcomed higher allocation for the industries in the State budget on Friday, the micro industries have expressed disappointment over lack of announcements on industrial estates for the sector.
Ravi Capoor, Secretary (Textiles), has urged the industry to diversify to polyester textile products to boost exports.
Mega parks will help country scale, spurring cost effectiveness: Textiles Secretary
Sluggish global and local economic conditions continued to dent India's external merchandise trade, as both exports and imports inched lower in January.
Garment sector benefitted the most from the EU Generalised System of Preferences (GSP) in 2018, according to the third biennial GSP report released by the European Commission.
Finance Minister Nirmala Sitharaman on Friday said that she is open to more tweaking inside and outside the Budget for economic growth based on the feedback given by economists and experts.