Budget Expectations: Hosiery industry seeks steps for small businesses : The Tribune India

Budget Expectations: Hosiery industry seeks steps for small businesses

Budget Expectations: Hosiery industry seeks steps for small businesses

Like the bicycle industry, the textile and hosiery industry here is also perturbed over the dominance of Bangladesh and China in the Indian market.



Tribune News Service

Shivani Bhakoo

Ludhiana, January 24

Like the bicycle industry, the textile and hosiery industry here is also perturbed over the dominance of Bangladesh and China in the Indian market. The local manufacturers are worried over the regular, under-billed import of cloth, finished product and machinery from other countries and want the government to take steps to stop imports and save the local industry.

Talking to The Tribune, the president of Knitwear Club and Ludhiana Wool Manufacturers’ Association, Darshan Dawar, said till date, only tall claims of bringing new industrial policy had been made and the industry was yet to benefit from any policy.

“The government is not taking any steps to stop China and Bangladesh from sending under-billed products. Their dominance has ruined the Indian market. The Chief Minister is today going to other states, asking businessmen to invest in Punjab, but he should take steps to save the local industry first. Machinery and products worth crores of rupees are being imported from other countries and local manufacturers are suffering,” Dawar said.

Sudershan Jain from Oner said the local industry was never being taken into confidence before coming up with any new policy.

“The Production Link Investment Scheme, which is meant for bigger industries with investments of over Rs 100 crore, should also be introduced for smaller industries with investment of up to Rs 50 crore. GST should not be increased and the government should take our suggestions before announcing the budget,” Jain said.

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