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Textile products should be kept in minimum possible tax slab under GST

Constraints on cash withdrawals negatively influenced procurement of new cotton, yarns and fabric

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Aakash Borse, director, Faber Infinite Consulting

Last Updated : Jan 20 2017 | 2:51 PM IST

The textile chemicals market in India is projected to cross $ 2.5 billion by 2021, on account of increasing industrialisation, surging consumption of textiles in engineered products and rapidly rising awareness about the benefits of using textile chemicals.

Apart from this, rising disposable income and increasing living standards are expected to significantly augment demand for textile chemicals in India over the next five years. Government of India has been increasingly focusing on taking initiatives to make the country’s textile industry more competent on the global landscape.

The Indian textiles industry is extremely varied, with the hand-spun and hand-woven textiles sectors at one

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