Budget Boosts Manufacturing, Exports with Customs Duty Cuts and Credit Schemes
The recent Budget announcements have drawn praise from experts, who believe measures such as cutting customs duties on a range of goods and introducing credit guarantee schemes for MSMEs will significantly boost domestic manufacturing and exports.
According to Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri, expanding the list of trims and embellishments under concessional import rates will help increase shipments of ready-made garments, making the industry more competitive.