Joint Chamber of Commerce and Industry of India (ASSOCHAM) report, the domestic textile industry has many opportunities, there are likely to attract 55 billion U.S. dollars of investment, create 65.4 million jobs, if the pace of reform accelerated in 2010 the textile industry CAGR growth of 22 can %.

ASSOCHAM study on the textile industry report, as many difficulties persist, by 2010 year project investments may from 55 billion U.S. dollars of planned investment reduced to 16 billion U.S. dollars, job creation may be Jin Wei Chi in 19 million, compared to , plans to create employment opportunities is 65.4 million.

2010 CAGR expected to fall to 6%, unless many ways to promote the reform of the textile industry.

In the 2006-07 fiscal year, the textile industry attracted investments of Rs 330 billion over the previous year’s 218.5 billion rupees increased 51%. Textile industry is 47 billion U.S. dollars the total size of the domestic market, 30 billion U.S. dollars, 17 billion U.S. dollars export market.

Joint Chamber of Commerce Mr. Dhoot said that rupee appreciation has eroded the competitiveness of the textile industry, textile industry profits decline in the international market less competitive. If the reforms continue to delay the case, the textile industry will lose its shine.

The president said that man-made fiber fabric of the consumption tax is 8%, raw materials consumption tax is 16%. Cenvat credit of capital goods recorded in the tax system taxes, as well as reverse tax structure led to the accumulation of credit problems.

The Government should integrate these taxes, so that textile manufacturers can use those funds have never not used. PTA import tariff of 7.5%, should be abolished, textile and clothing tariffs of 4% should be returned to the exporter.

Chamber of Commerce study recommends adjustment of existing programs, such as the Technology Upgradation Fund (TUFS), reported that the funds approved under the scheme is much less than the amount incurred by the Government to compensate. Therefore, the approved amount of funds should be increased. Spinning and textile factory integrated plan has been the biggest beneficiary of this enterprise.

The scope of benefits scheme should be extended to processing and garment enterprises, as in the textile manufacturing chain, these companies produce the highest value-added products, but the creation of foreign exchange are few.

Ministry of Textiles under the arrangement should ensure that STIP textile industrial park to be built, but also should continue to be open, to reduce import tariffs on textile machinery and equipment in the next 4-5 years to achieve zero tariffs.

The study also pointed out that these plans must be monitored and placed under one umbrella, in order to minimize costs, minimize bureaucratic obstacles to achieve real benefits.

The plan is not working well should be canceled, the operation of a good program should be more financial resources. Textile industry faces infrastructure constraints and increased transportation and transaction costs.

The Joint Chamber of Commerce has proposed to lower the export credit interest rate, to speed up clearing customs and central sales tax rate of return, to help exporters increase export profits.

Textile industry badly need new investment to expand production capacity, introduce advanced technology and installation of new machinery, the textile enterprises to attract foreign direct investment fell to its lowest level.

India should encourage global manufacturers and private equity fund investment SMEs, fostering investment.

Other labor laws that hinder the development of the textile industry as a factor. It limits the competitiveness of textile industry, delayed the progress of reform in the textile industry.

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