Inclusion of natural gas in the GST regime, Incentives for export and bringing tiles and sanitaryware in desired 12% GST slab could be the key growth triggers that the tiles industry expects from the budget.
New Delhi, January 27, 2021: Natural Gas (fuel cost) is one of the major cost components for the tiles industry and keeping it out of the GST regime is putting the tiles industry at disadvantage. It is high time that it should be brought under GST.
Tiles and sanitaryware industry is an integral part of infrastructure and resonates with key government initiatives including Swachh Bharat Abhiyan, Make in India and Housing for All and bringing it in the 12% GST slab from 18% currently will provide much needed boost and also help in building affordable houses.
Post Covid, World is looking at India with great potential to fill the demand gap. It is imperative that the incentive on export of tiles should be reviewed and increased to boost exports.
Tiles industry in India is estimated at around Rs. 40,000 crore and growing at a healthy single-digit employing over 6 lakh people in direct and indirect employment.
The economy is still recovering from Covid hence it is imperative that FM should focus on policies that encourage new investment, expedite the Capex cycle aiming at generating more employment opportunities and roll out tax benefits for individual taxpayers so consumption can also get a boost.
Govt. focus on Infrastructure growth to be increased by encouraging new Investment from overseas also for boosting up Atmanirbhar programme of Govt. in Tiles Sector growth.
Corporate Comm India (CCI Newswire)
