India 31 January 2017: "We are quite optimistic and have high expectations from the upcoming union budget. All eyes are now on the FM for clarity on the rolling out of GST and fixing indirect tax inefficiencies. We feel that textile items should be kept under GST with the minimum possible tax slab of 4-5% as it is a key item for the common man. Secondly, there are lots of raw materials like nylon and technical fibers which we wish to import from other countries and manufacture finished products here. However, high duty acts as a deterrent and we get bound to import finished products. So, the government must lower the import duty to aid companies like Woodland. This will certainly boost PM’s “Make in India” initiative. We believe that government would also lay emphasis on curbing inflation as increased inflation affects consumer’s buying power which further affects the retail market. We hope to see supportive policies for the retail sector in this year’s budget."
