UnionBudget2024

Union Budget 2024-25: Textile sector-An expert take

 

"Textile expert, Riju Jhunjhunwala the Chairman and Managing Director of RSWM Ltd hails Budget 2024 as positive for the sector"

Union Budget 2024 charts a comprehensive path to India's economic prosperity, prioritizing manufacturing, energy independence, and environmental sustainability.

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By offering substantial incentives to the manufacturing sector, the budget aims to create ample job opportunities and bolster our workforce. The strategic push towards nuclear energy and indigenous thermal power technologies underscores the government's commitment to energy security and efficiency.

Moreover, the budget's emphasis on sustainable initiatives, such as the rooftop solar scheme, is poised to revolutionize energy consumption at both domestic and industrial levels. Overall, this budget lays a strong foundation for industrial growth, aligning with India's vision of a green and innovative future.

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CmaiNGF

National Garment Fair 2024 Kicks Off in Mumbai

The 79th National Garment Fair (NGF), organized by the Clothing Manufacturers Association of India (CMAI), commenced on July 23rd in Mumbai. The grand inauguration was presided over by Seerna Rajamouli of R S Brothers, a leading South Indian retail group, in the presence of industry stalwarts, apparel manufacturers, retailers, distributors, and other key stakeholders.

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The four-day event, spanning from July 23rd to 26th, is showcasing over 1300 apparel brands across a sprawling 1 million square feet of exhibition space. The Bombay Exhibition Centre in Goregaon hosts men's, women's, and accessory collections, while kidswear takes center stage at the Jio World Convention Centre in BKC.

CMAI leadership, including President Rajesh Masand, Vice President & Chairman-NGF Rohit Munjal, Hon. General Secretary Santosh Katariya, Hon. Treasurer Ankur Gadia, Jt. Chairman-NGF Anand Choksi, and Chief Mentor Rahul Mehta, were present at the inauguration.

Expressing optimism about the upcoming festive season, CMAI President Rajesh Masand highlighted the fair's role in showcasing the industry's resilience and vibrant offerings. He emphasized NGF's significance as a platform for brands to unveil their latest collections and innovations, catering to the growing demand from retailers and consumers.

Seerna Rajamouli of R S Brothers lauded the fair's positive energy and diverse collections, emphasizing the importance of the fashion industry in meeting consumers' psychological needs.

Rohit Munjal, Vice President & Chairman-NGF, underscored the fair's commitment to driving innovation and fostering industry connections. With over 1300 brands participating, NGF aims to create a thriving business environment for all stakeholders.

Rahul Mehta, Chief Mentor, CMAI, shared the industry's anticipation for a robust festive season, characterized by growth in both volume and profits.

The National Garment Fair, a biannual event with a successful history of 78 editions, is a cornerstone of the Indian apparel industry. It brings together a vast network of brands, manufacturers, designers, retailers, distributors, and e-commerce players. With the domestic apparel market poised to reach USD 105.50 billion by 2024, NGF is well-positioned to capitalize on the industry's growth trajectory.

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