The Fashion industry has been running exquisitely for several years but it was highlighted that the endeavor’s behind it were not so appreciated and recognized by the audience and among the industry professionals themselves. To rejuvenate the fashion industry and give diligent professionals the deserving admiration, founders united and realized the importance of creating an initiative providing a platform today known as India Fashion Awards, which connects all the tiers of fashion experts and benevolently grants them with their due appreciation. Sanjay Nigam, the Founder of India Fashion Awards and Fashion Entrepreneur Fund (FEF), pre-budget expectations quote for the textile industry.
“The resilience displayed by the industry in the face of budgetary constraints in 2022 was commendable, and the subsequent year brought about a substantial 22.6% surge in allocated funds as reflected in the Union Budget 2023–24. This uptick marked a pivotal shift, steering away from the challenges encountered in the previous fiscal year and indicating a robust commitment to industry expansion. Notably, the decision to revise the proposed GST rate from 12% to 5%, effective January 1, 2023, instills an additional layer of optimism. As we embark on the new fiscal year, the textile industry remains resilient, fuelled by optimism and strategic investments. The path ahead promises a tapestry of growth and opportunities intricately woven into the fabric of 2024–25” said Sanjay Nigam.
