As the fiscal year 2024-25 progresses, the Indian textile industry anticipates crucial support
from the Union Budget, to be presented on July 23 by Finance Minister Nirmala Sitharaman.
Key demands include ensuring competitively priced fiber supplies (cotton, polyester, viscose)
and subsidies for technical upgrades.
RK Vij of the Textile Association of India stressed the need for international pricing and
quality of raw materials, advocating for higher duties on finished garment imports and
extending the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme
beyond September 2024.
Rakesh Mehra of The Confederation of Indian Textile Industry called for policies ensuring
global raw material prices, a scheme similar to the Technology Upgradation Fund Scheme
(TUFS), a second Production Linked Incentive (PLI) scheme, and expedited free trade
agreements with the UK and EU.
Dr. SK Sundararaman of The Southern India Mills’ Association urged for high-quality cotton
at prices 10% below international rates, the removal of cotton import duties, and measures to
boost domestic cotton production.
Sanjay Garg of the Northern India Textile Mills’ Association recommended a minimum
import price (MIP) for all fabrics and the elimination of the duty on imported cotton due to
higher domestic prices driven by increased minimum support prices (MSP).
Jaikrishna Pathak of The Bombay Yarn Merchants Association called for streamlining the
polyester textile value chain, reducing GST on raw materials, and restricting fabric imports to
protect the domestic industry.
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