Apparel March 2020 Apparel March 2020 issue | Page 18
MARKET WATCH
India Budget 2020 for
Textile and Clothing:
What Industry Leaders
have to say
CMAI Welcomes Union
Budget 2020-2021
The Clothing Manufacturers Association of India
(CMAI) the Apex Association of the Apparel
Industry of the Country welcomed the Union
Budget presented in Parliament by Hon’ble
Finance Minister Smt Nirmala Sitharaman on
February 1, 2020 as positive and growth oriented.
Mr Rakesh Biyani, President, CMAI, said that
the most important step in this Budget for the
Industry was the removal of the Anti – Dumping
duty on PTA, which was a long standing demand
of the Textile Manufacturing Value Chain, as PTA
is a crucial input for polyester production. This
will potentially open up the MMF Value Chain,
and give a filip to the entire MMF industry thus
enhancing its global competitiveness. Technical
Textiles, Home Furnishing, Sportswear Industry,
Sarees, Dress Materials etc, will all benefit greatly
from this move. This move has the potential of
being an important game changer for the MMF
segment of the Industry.
Mr Biyani further stated that other than this, there
are several other measures which could benefit
the Textile Industry, but which appear to be work
in progress at this point of time – such as the
Technical Textile Mission, a review of the Rules of
Origin especially in our FTAs, a review of cheap
imports of goods being made by our MSME
Sector, refund of all the Taxes and Levies for
Exports, and the targeting of making every District
an Export hub. The proposed financing of Invoices
of the MSME Sector could again be a huge benefit
to the Industry, which is largely comprised of the
MSME Units. If indeed all these plans fructify as
per the stated goals and objectives, this could be
a landmark Budget for the Industry.
Kudos to the Textile Ministry and Hon. Prime
Minister for some very bold steps.
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I APPAREL I
March 2020
All industry leaders across the board have lauded
the removal of the anti dumping duty on PTA.
“This will give a major boost to the Indian textile
industry and will help downstream industry stay
competitive,” says T Rajkumar, Chairman, CITI.
Reacting to Budget proposals 2020-21, Ashwin
Chandran, Chairman, Southern India Mills’
Association (SIMA), stated that PTA being imported
from different countries including China, Indonesia,
Taiwan, Iran, Malaysia, attracts anti-dumping
duty of approximately US$27 to US$160 per
metric tonnes depending on the country of origin.
India on the other hand, faces shortage of PTA
which curtails capacity utilisation in the polyester
industry. “This shall help the country enhance its
global competitiveness, boost exports and enable
domestic manufacturers to compete with cheaper
imports,” he said.
Excerpts from Fashionating World
Aditya Birla Fashion and
Retail brings Fred Perry
to India
Aditya Birla Fashion and Retail Ltd (ABFRL) has
partnered with British Heritage Brand Fred Perry
to launch the latter in the Indian market. Fred Perry
entered the Indian market with its first standalone
store in the country at DLF Promenade shopping
mall, New Delhi. The store is spread over an area
of 1100 square feet and will house a range of the
brand’s most iconic products including the latest
collections and collaborations.
Commenting on the launch of Fred Perry in
India Amit Pande Brand Head at ABFRL in a
statement said, “Fred Perry the Brand has always
been synonymous with timeless heritage and
iconic collaborations. The brand has long been
recognised and embraced by the discerning Indian
and we are delighted we are bringing Fred Perry to
the country.” Excerpts from fashionnetwork.com