Prosperity Of India Textile Industry Drives Machinery Industry To Restore Vitality

The turnover of India's textile machinery industry is 40 billion rupees, as expected.

Textile machinery demand began to pick up after the federal government announced the textile technology renewal Fund (TUFS) plan in 2002.

This is because the plan provides subsidies and other preferential measures for upgrading machinery.

In 2008, the economy slump, the textile enterprises stopped production, the machinery industry suffered heavy losses, and the machinery orders were finally cancelled.

But now the situation is improving in recent months, and the textile machinery industry seems to be recovering from the recession.

Supplement:

Shahzad, vice president of the newly elected Pakistan cotton gin Association Punjab branch, appealed to the state to import cotton gin without tax.

He strongly opposed the proposal of requisitioned VAT to avoid worsening the cotton gin industry again.

Shahzad said he hopes to get enough support from the authorities concerned. Pakistan's products will have enough space to attract buyers in the international market because they can provide better quality.

However, it takes time for the government to adopt a business friendly policy, especially for small investors to distribute their nationwide cotton ginning production network.

Tax cuts at different stages, including machinery imported from textile production, can make Pakistan more prosperous in the international market.

Shahzad stressed that the cost of electricity and natural gas should be cut down and imported modern machinery should be imported.