A union budget reaction quote from Mr. Prashant Agarwal, MD, BRFL Textiles Pvt. Ltd, on the impact of the budget on the textile industry:
“We welcome the government’s decision of implementing the initiatives under the Gati Shakti scheme which will help in enhancing logistical connectivity across the country through multimodal logistics parks which will help in the movement of goods more efficiently. Special Economic Zones such as large textiles clusters, will play a significant role in the growth of the Indian textile industry, especially for exports. The production linked incentive (PLI) announced by the government for various sectors including the textile industry is expected to create over 7.5 lakhs in the next five years in the sector, which is a great sign. Additionally, the expansion of the Emergency Credit Line Guarantee Scheme by Rs 50,000 crore to Rs.5 Lakh crores will enable MSMEs in the sector to recover from the adverse impact of the pandemic.”
