budget projection from RSWM Ltd. CEO Mr. Rajeev Gupta.
In order to encourage domestic manufacturing of technological textile goods, including agro textiles, geo textiles, and medical textiles, at competitive rates, the Union Budget for FY 2025–2026 proposes significant reforms. In an effort to increase textile manufacturing’s output capacity, two additional shuttle-less looms have been added to the list of entirely exempt textile machines. The focus on Atmanirbharta by the government via The proposed change of the Basic Customs Duty (BCD) rate on knitted textiles across nine tariff lines, from 10% or 20% to 20% or 104 per kg, whichever is greater, is in accordance with rising domestic textile output. It is encouraging that the government has committed to offering cotton producers technical and research and development assistance as part of the five-year plan. It is anticipated that this project would increase the productivity of cotton production and encourage a variety of cotton cultivars.