Knitwear sector let down: SISMA

TIRUPUR: The increase in the excise duty from 10.3 per cent to 12 per cent has disappointed the domestic garment manufacturers.The Budget has not announced any significant concessions for textile sector, the South India Hosiery Manufacturers Association (SIHMA), president A C Eswaaran said. “For the past one year domestic hosiery manufacturers were demanding the removal of excise duty on readymade garments. However the industry was disappointed as the Centre did not remove the excise duty.” The Tirupur Industrial Federation (TIF) also expressed athe same view.President of TIF, Ahill M S Mani, said, “The job working sector in the knitwear industry expected one-year interest waiver for bank loans for overcoming the recession in the industry. However the SME sector’s demand was neglected in the budget.K S Babuji, general secretary of Seconds Collar Shirts and Inner Wear Small Scale Manufacturers Association (SISMA), said that the knitwear industries across the country were betrayed.