Budget reaction from Garware Technical Fibres Ltd.

Shujaul Rehman CEO, Garware Technical Fibres Limited

“This year’s budget announcements are significant in many ways, especially in terms of changes in direct taxation. The Honourable Finance Minister has announced a sub scheme for the PM MATSYA SAMPADA YOJANA with additional incentives of ₹6,000 crore for fisheries and fisherman which is a welcome move. The exclusion of the textile sector from custom duty reduction should positively impact the domestic textiles sector. We also hope that some announcements made in this budget will encourage private sector companies to increase investments and also spend more on research & development.”

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