Ganapathi Rajkumar, Coimbatore MP, emphasized the anticipated economic benefits from the airport expansion and new cricket stadium. Speaking at Texfair, he committed to reviving the textile sector and addressed local GST concerns.
Coimbatore: During the inauguration of the 14th edition of Texfair, held at CODISSIA Trade Fair Complex, Coimbatore MP Ganapathi Rajkumar discussed significant development projects poised to enhance the district's economy. The expansion of Coimbatore International Airport and the construction of a new cricket stadium are expected to drive economic growth and benefit myriad industries in the region.
"These projects are not only about physical infrastructure; they promise a revival of economic activities and job creation," said Rajkumar, highlighting the ongoing struggles of the textile industry, where 30% of MSMEs have halted operations. He assured stakeholders of his commitment to addressing these issues in Parliament and stressed immediate action to rejuvenate the sector.
Regarding the Coimbatore airport expansion, Rajkumar mentioned that 95% of the land acquisition is complete and the remaining processes will conclude shortly. He also tackled the subject of Goods and Services Tax (GST), pointing out the disparities in GST rates and their impact on different sections of society, particularly affecting MSMEs in the textile industry. "Biscuits consumed by common people are taxed at 18% whereas luxury items such as gold and diamonds are taxed much lower, at 3-4%," he explained.
Furthermore, Rajkumar refuted claims of anti-incumbency against the DMK-led State government, asserting that any dissatisfaction was directed towards the Central government. He emphasized the necessity for collaboration between the State and Centre, applauding the state’s readiness to cooperate under the guidance of the Chief Minister of Tamil Nadu.
The Texfair event, organized by the Southern India Mills’ Association (SIMA), features over 240 stalls and expects to attract nearly one lakh visitors. It showcases advancements in textile machinery and accessories, continuing until June 24. Leaders from the textile industry, including K.V. Srinivasan and S.K. Sundararaman, also shared insights into the current state and future prospects of the textile business globally and in India.
"These projects are not only about physical infrastructure; they promise a revival of economic activities and job creation," said Rajkumar, highlighting the ongoing struggles of the textile industry, where 30% of MSMEs have halted operations. He assured stakeholders of his commitment to addressing these issues in Parliament and stressed immediate action to rejuvenate the sector.
Regarding the Coimbatore airport expansion, Rajkumar mentioned that 95% of the land acquisition is complete and the remaining processes will conclude shortly. He also tackled the subject of Goods and Services Tax (GST), pointing out the disparities in GST rates and their impact on different sections of society, particularly affecting MSMEs in the textile industry. "Biscuits consumed by common people are taxed at 18% whereas luxury items such as gold and diamonds are taxed much lower, at 3-4%," he explained.
Furthermore, Rajkumar refuted claims of anti-incumbency against the DMK-led State government, asserting that any dissatisfaction was directed towards the Central government. He emphasized the necessity for collaboration between the State and Centre, applauding the state’s readiness to cooperate under the guidance of the Chief Minister of Tamil Nadu.
The Texfair event, organized by the Southern India Mills’ Association (SIMA), features over 240 stalls and expects to attract nearly one lakh visitors. It showcases advancements in textile machinery and accessories, continuing until June 24. Leaders from the textile industry, including K.V. Srinivasan and S.K. Sundararaman, also shared insights into the current state and future prospects of the textile business globally and in India.