Dr. S N Modani, CEO & Managing Director, Sangam India Ltd,”The Union Budget 2022 presented by the Honorable FM Nirmala Sitharam is paving way for excellent growth in the times to come. The government has given clear indication that the budget is more growth-oriented wherein the capital expenditure of the central govt will be to the tune of Rs. 10.68 lakh crore for 2022-23 which is 4.1% of the GDP. The budget puts immense thrust in manufacturing and capital expenditure which should enable the economy to grow and achieve its target of being a USD 5 trillion economy by 2025. The positive initiative taken towards green power and the allocation of Rs. 19500 cr for manufacturing of additional solar panels to meet the requirement of solar power in multiple sectors is noteworthy. The highest GST collection for the month of January 2022 shows that the Indian economy will face a robust growth. Even the figure of USD 635 trillion forex reserve signifies the economic strength of the nation on the export front. All put together, this Union Budget is very promising, growth oriented and will also be able to address the concerns of unemployment.”
Headquartered in Bhilwara, Rajasthan, Sangam India Ltd is one of the foremost producers in PV dyed yarn, cotton and OE yarn and also ready to stitch fabric. The NSE & BSE listed company has produced 35 million meters of PV fabric and 48 million meters of denim fabric annually with a highly organized production base equipped with more than 2,36,000 spindles and 3,000 rotors.