Budget Expectations 2022 – Dollar Industries Limited

By Mr Vinod Kumar Gupta, MD – Dollar Industries Limited

Right now, both the retail & hosiery industry are under tremendous pressure due the price of the cotton yarn. We have spoken to Union Textile minister, Piyush Goyel urging him two things – firstly, to abolish 5% import duty on the inward cotton so that the import becomes cheaper than the domestic prices and secondly, impose export duty on export of cotton yarn so that the Indian market become cool and the industry does not suffer.

Further, the entire hosiery section is from the MSME sector, so the check on the cotton price would cool the market and ultimately if it is maintained throughout the year then the whole industry would benefit out of it.