Budget 2024: MSME textile firms want compliance burden reduced, sops for capacity building

Quick Summary:

India’s textile sector is dominated by small businesses that fall under the MSME category.

It is also the second largest employer in the country, after agriculture, offering employment to 45 million people and 100 million in allied industries.

According to Invest India, the sector contributes around 2.3% to the GDP, 13% to industrial production, and 12% to exports.

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Article Details

Author / Journalist: ET Online

Category: Business

Markets: India

Topics: MSME Budget 2024 Clothes Textile industry Textile sector Msme data stack

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 18:01:38 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 243 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 41 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 21674411

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 6 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #84

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