Budget Reactions - Mr. Paritosh Agarwal – MD, Suryalakshmi Cotton Mills Ltd.

- Continuation of TUFS is a great encouragement to the textile industry. This will invite further investments in this sector.

- Removal of excise duty on garments is a major boost to the textile industry as a whole. It will help in improving the demand in garment thus boosting the demand for fabric. Pressure on garments pricing will reduce. It will boost the retail sector also.

- Giving investment allowance of 15% in on investments more than Rs 100 crores in plant & machinery will boost the growth of the industry.

- As a whole the budget is very much encouraging for the textile sector. We welcome the budget.

Source : Equity Bulls

Keywords