February 13, 2018 2:34 PM

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Reclassification of MSMEs-biggest advantages of Union Budget for textile sector: Smriti Irani

Textiles Minister Smriti Irani on Tuesday said one of the biggest advantages of the Union Budget for the textile sector has been the reclassification of Micro, Small, and Medium enterprises. <br/><br/>Briefing media in New Delhi Tuesday afternoon, the Minister said there was a long pending concern by power loom sector that the Indian market is flooded by Chinese fabric and they were demanding protection from government. <br/><br/>She informed that Finance Ministry has enhanced basic customs duty thereby giving protection to domestic manufacturers in fabric sector. <br/><br/>Mrs Irani said Prime Minister Narendra Modi had announced special garment manufacturing units for the North Eastern States in 2014. <br/><br/>She expressed happiness that all garment manufacturing units are now functional except Sikkim. <br/><br/>The Minister said Prime Minister has given a special focus to development works in the North East, especially in sectors like sericulture. <br/><br/>

February 13, 2018 2:34 PM

printer

Reclassification of MSMEs-biggest advantages of Union Budget for textile sector: Smriti Irani

Textiles Minister Smriti Irani on Tuesday said one of the biggest advantages of the Union Budget for the textile sector has been the reclassification of Micro, Small, and Medium enterprises. <br/><br/>Briefing media in New Delhi Tuesday afternoon, the Minister said there was a long pending concern by power loom sector that the Indian market is flooded by Chinese fabric and they were demanding protection from government. <br/><br/>She informed that Finance Ministry has enhanced basic customs duty thereby giving protection to domestic manufacturers in fabric sector. <br/><br/>Mrs Irani said Prime Minister Narendra Modi had announced special garment manufacturing units for the North Eastern States in 2014. <br/><br/>She expressed happiness that all garment manufacturing units are now functional except Sikkim. <br/><br/>The Minister said Prime Minister has given a special focus to development works in the North East, especially in sectors like sericulture. <br/><br/>

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