Budget snubs textiles: raw cotton, polyester unchanged

Ludhiana's Rajya Sabha MP, Sanjeev Arora, expressed strong discontent over the latest Budget. He highlighted the government's neglect of the textile industry, emphasizing that the sector's expectations for duty reductions on imported raw cotton and polyester fiber were ignored.

This decision has left the textile industry, already facing significant challenges, disheartened and concerned about future growth and employment.

Arora pointed out that despite the industry's substantial demand, the government failed to address requests for reducing import duties and setting a minimum import rate for Chinese fabrics. This neglect could exacerbate the problems of unemployment and increase non-performing assets (NPAS) within the sector.

Overall, Arora conveyed that the textile sector have been overlooked, with the government's budgetary decisions falling short of expectations, potentially hindering economic and social progress.