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Last updated: 04 Jan, 2022  

Goyal.9.Thmb.jpg Minister hails deferrment of increase of GST slab for textiles sector

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SME Times News Bureau | 04 Jan, 2022

Union Minister for Textiles Piyush Goyal  has said that Industry and Government  are partners in India’s growth story & now, is the time to be a Global Champion in Textiles by taking up bigger & bolder targets.

Interacting  virtually with the leaders of Textile Industry in India, today, Goyal stated that in this period of the Azadi ka Amrit Mahotsav, we must all collectively put forth our efforts in one direction to realise our goals.

Goyal asked the Textile industry to  work  for  achieving the target of  $ 100 billion exports in a quick time.

Thanking the Pime Minister Narendra Modi  and  Finance Minister for the decision to   defer the increase of tax slab from 5% to 12%  for Textiles, taken in the 46th meeting of GST council, Goyal said that this is a new year gift for the Textile Industry. He added that  the requests of industry stakeholders was considered in present challenging times when the sector is on the path of recovery. 

He also expressed his gratitude to  the textiles leaders who remain   connected   with  the  Ministry  with all their  grievances regarding raising the GST slab in MMF segment.

The Minister mentioned that under Prime Minister, the textile sector has received a new boost to achieve Speed, Skill & Scale.  He emphasized  that to make India Aatmanirbhar, we need to make our Artisans, Weavers, Farmers & MSMEs Aatmanirbhar.

Talking about  several transformational reforms to realise vision of an Aatmanirbhar Bharat & solidify India’s position on the Global textiles map, the Minister  said that  step by step we have  strengthened textile ecosystem of the nation to fully utilise our competitive & comparative advantage. 

He said from weavers to women entrepreneurs, every segment has been empowered by these steps.

Goyal called upon the Textiles Industry Leaders to send suggestions for improving and developing the sector further.  He also said that   collectively with Subka Saath, Subka Vikas, Subka Prayas and Subka Vishwas    we will surely achieve all of our targets.

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