Tirupur Exporters and Manufacturers Association president said that the Union Budget did not have any announcement to encourage the knitwear sector and it was a disappointing budget for the hosiery sector.
Tirupur: The Union Budget was presented. Muthuratnam, president of the Tirupur Exporters and Manufacturers Association, said the Tirupur industry had been waiting for various announcements regarding the hosiery sector but were disappointed.
Tirupur Exporters and Manufacturers Association president Muthuratnam said the budget was a disappointment for the hosiery sector, which was expecting the textile sector to be given importance in the union budget.
"Rs 9,000 crore has been announced in the budget for small and medium enterprises. But this is a very small amount. We were expecting that this was not going to change in any way and that the cotton import duty would be abolished to keep the raw material prices stable.
Similarly, we were expecting announcements on bank loan assistance. But it is disappointing that there is no announcement in this regard. He also said that there was no notification regarding the ban on the export of cotton or the import duty on cotton. It is also disappointing that there is no announcement regarding controlling yarn prices.
The many-year demand for a separate board for the hosiery sector has also not been fulfilled. Not a happy budget for hosiery, the announcement regarding workers' quarters, which is the main demand of the industrial city, While we were also expecting the announcement of the knitwear board, no announcements in this regard have been made in the budget. Overall, this budget has only disappointed the hosiery sector, he said.