Centre to look into textile industry's apprehensions on embedded duties: Smriti Irani
She made the remarks at the Textile Conclave organised by Assocham in Gandhinagar on January 20.
January 21, 2019 / 04:05 PM IST
Indo Count Industries | In FY21 so far, the stock has gained 571 percent to Rs 160.05 on November 23, 2020, from Rs 23.85 on March 31, 2020. Whereas in FY20, it had fallen 51 percent to Rs 23.85 from Rs 48.50 on March 29, 2019.
The government will look into the textile industry's apprehensions regarding embedded duties not being refunded fully and see that no tax is imposed on exports, Union minister Smriti Irani said.
She made the remarks at the Textile Conclave organised by Assocham in Gandhinagar on January 20, a release said.
"Government is rolling out two new initiatives – one for estimating the domestic market consumption while the other would be to develop India-specific apparel sizing which will help in taking policy decisions for growth of domestic industry," Irani said while inaugurating the conclave along with Gujarat Chief Minister Vijay Rupani at the Vibrant Gujarat Global Summit.
The textiles minister added that since 2014, Rs 35,000 crore has been invested in the textile and apparel sector on account of government support.
Irani congratulated Rupani for announcing the new textile policy in Gujarat wherein Rs 3 per unit electricity subsidy is offered to small power loom units and Rs 2 per unit to all other segments.