Telangana Textile Industry Urges GST Reform, Highlights E-commerce Challenges and MSME Support Needs

• Telangana textile industry calls for GST rate reform on textile products
• Advisory to banks on working capital and action against unfair e-commerce practices
• Textile industry is a major employment generator facing stress and needs support
• TSFTA president submitted a memorandum to Union Minister of MSMEs
• Request for uniform 5 percent GST on textile products for affordability and compliance
• Banks reluctant to extend working capital to small traders and textile units
• Need to simplify loan disbursement and ensure timely credit
• Request for export incentives and training for textile MSMEs
• Concerns over e-commerce platforms and retail chains offering deep discounts
• Call for policies to ensure fair competition and protect offline traders
• Request for wholesale and retail traders to access MSME benefits
• Need for subsidised power tariffs and infrastructural upgrades at textile clusters
• MSME Ministry’s support is crucial for sustaining livelihoods and economic contribution

Source: a2ztaxcorp.net

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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