Jan 23, 2016, 12.50 PM | Source: PTI
After hearing views of major industry associations in the region, he said all their fifteen demands are very reasonable and assured them steps would be taken to find a solution.
They urged the minister to address some more issues to create a level-playing field in globalised environment and enable the industry achieve the target of USD 300 billion textile business size by 2023 from the current level of USD 110 billion as set by the Prime Minister.
The demands include continuation of Optional CENVAT route, fixing lowest slab of GST for textile industry, extending export incentives for cotton yarn export, reduction of excise duty on Man Made Fibres from 12.5 to six per cent and compensate farmers directly whenever the cotton market price rules below MSP.
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A Committee of Governors, constituted by President