PIL Chairman Praises Budget Allocation for Textile and MSME Sectors

Surat. Pandesara Infrastructure Limited (PIL) Chairman Kamalvijay Tulsyan has warmly welcomed the recent Union Budget allocation for the textile and MSME industries, deeming it a substantial boost for sector development.

Significant Increase in Textile Sector Funding

The budget has increased the allocation for the textile sector to Rs 4,417.09 crore, which is Rs 974 crore more than the previous year. In addition to this, a new credit guarantee fund of up to Rs 100 crore has been announced for MSME entrepreneurs.

"This budget will prove very helpful for MSME entrepreneurs," Tulsyan stated. "Evaluating loans based on digital footprint instead of property will make it easier for even struggling industries to obtain loans."

Proposals for Industrial Development in Surat and Tapi

Tulsyan also advocated for building one of the 12 industrial parks of the Delhi-Mumbai Industrial Corridor (DMIC) in Surat. He welcomed the government's plan to establish 100 industrial parks in 100 cities, suggesting that one should be located in Tapi district to create employment opportunities for local tribals.

Future Textile Policy

A presentation has been made to Union Minister C.R. Patil to ensure that the upcoming central government textile policy will act as a catalyst for the industry.

By addressing these needs and incorporating these proposals, the budget aims to foster significant growth and development within the textile and MSME sectors, ultimately benefiting the broader economy.