Talking about the amount of Rs. 50 crore announced for textile parks, Narinder Miglani, Director, Ludhiana Integrated Textile Park Limited, says that it was a positive and welcome move. Ludhiana is one of the places proposed for a textile park. Miglani states that the move has been welcomed by the manufacturers.
He adds that the announcement of allotment of funds for technological upgradation in the industry would be very beneficial to industrialists.
“We are happy to know that excise duty has been removed from the manufacturing of clothes from cotton yarn. We had demanded the same from the Finance Minister,” says Sumeet Sharma, a manufacturer.
“Overall, the budget was a textile manufacturer-friendly one. We are satisfied with the announcements made by the Finance Minister,” he says.