Industry Updates

Budget Reaction from CMAI President Santosh Katariya

Published: February 1, 2025
Author: Fashion Value Chain

Although no significant benefit or Scheme has been announced for the Textile Industry as such, I see a huge benefit for the Industry from two angles:

  • On the Production side, the measures proposed for MSMEs, especially the Micro Sector, will certainly provide a boost to this Sector, especially the increase of various upper limits – though details are still not known;

Launch of the Cotton Mission could be a big step;

Measures to improve competitiveness of Export Sector, Domestic Manufacturing Capacities, and Ease of Doing Business will all help give an impetus to Manufacturing;

Lowering of Basic Customs Duties on certain Textile Machineries will also provide an impetus.

  • On the Consumption side, the lowering of Income Tax at various levels will hopefully provide a huge increase in disposable income, increasing consumption;

Various changes in the TDS and TCS limits should also give an impetus to Consumption.

In conclusion, a big Thumbs Up to the Budget 25-26, provided of course there are no twists in the fine print!

Having said this, I just hope that the advantages of the Budget are not nullified with increase in GST rates – especially in the Textile and Apparel Sector.

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