Surat Textile Traders Present Budget Demands to Finance Minister
The textile traders' association representing multiple segments has formally submitted its comprehensive suggestions to Union Finance Minister Nirmala Sitharaman in anticipation of the upcoming Union Budget 2026, scheduled for presentation in Parliament on February 1. This significant move comes from Surat, widely recognized as the nation's premier hub for both textile and diamond industries.
Key Demands for Budget 2026
In their detailed letter to the Finance Minister, the trade association has outlined several critical demands aimed at strengthening the textile sector's competitive edge. The foremost requests include substantial funds allocated specifically for research and development purposes within the industry. Additionally, traders have strongly advocated for the establishment of a specialized textile university in Surat through the forthcoming budget.
Kailash Hakeem, President of the Federation of Surat Textile Traders Association, emphasized the urgency of these measures, stating, "With over 75,000 textile trading shops in Surat, we have great hope for the coming Budget. Our main demand is that the Centre should do something for Research and Development activities and setting up of Textile University in Surat. Today, we have to compete with the global market, so the government should make a special budget for Surat for Research and Development and universities."
Rationale Behind the Demands
The proposed textile university is envisioned as a transformative institution that would enable Surat's youth to make new and creative contributions to this industry, thereby helping the sector meet international standards and compete effectively in the global marketplace. Surat's textile industry represents an economic powerhouse with an annual turnover of approximately Rs. 1.5 lakh crore, producing over 4.5 crore metres of fabric daily.
This vital industry employs workers from diverse regions across India, including Uttar Pradesh, Bihar, Uttarakhand, Punjab, Jharkhand, Odisha, Maharashtra, and Karnataka, who migrate to Surat for employment and business opportunities within the textile sector.
Additional Regulatory Reforms Requested
Beyond the educational and research initiatives, the traders' association has called for important amendments to both the MSME Portals and the Income Tax Act. According to industry representatives, certain sections within these portals create confusion among traders, necessitating clearer guidelines and simplified procedures.
The textile trade industry has also reiterated its longstanding request for simplification of the GST (Goods and Services Tax) system, seeking more streamlined processes that would enhance operational efficiency and reduce compliance burdens for businesses of all sizes within the sector.
As Budget 2026 approaches, the textile traders of Surat await the government's response to their comprehensive wishlist, hoping for policy measures that will bolster India's textile competitiveness on the world stage while supporting the millions of workers and businesses dependent on this crucial industry.
