Published on June 23, 2014
Industry players said that newly elected government is likely to boost growth of the textile sector at the global level. By implementing some new policies manufacturer and dyes industry will get benefit for the further trade.
New government believes to make Indian good to global brand with having no defects that only will help for the growth of textile sector. Such steps of government will help dye industry which is mainly dependent on textile growth and due to that demand of related chemicals are likely to see good time.
Recent news from textile sector says that the government is likely to hike incentives for the labour-intensive textile industry in the coming budget in order to boost export and manufacturing of the sector.
Sources said that government may enhance allocation for the Technology Upgradation Fund Scheme (TUFS) has been functioning as a part of support to the textile sectors. Industry analysts said that textile industry needs constant modernization of machinery and plants to remain competitive in international market against rivals like Bangladesh, Pakistan Sri Lanka and China.
Industry players are expecting that coming budget will be in favor of Textile sector and will add to the growth of the sector. For the current week, demand of Chemicals in this sector remained moderate, no major fluctuation has been found.
