Paper Title
The Performance Analysis of Indian Textile Industry before and after Goods & Service Tax
Abstract
Goods and Services Tax was introduced to subsume all previous indirect taxes. India is among the biggest exporters of textiles and apparel on the planet. Bringing in GST in the textile industry was accompanied by tremendous opposition from the producers and merchants from everywhere in the country. With a huge potential of growth in the coming years increased tax rate is a hindrance to the industry. Considering all the factors, through this study, an effort has been made to investigate the effects of GST on the Indian Textile Industry with the help of quantitative methodology. It is henceforth completed with the assistance of different authentic research papers, journals, news articles and information gathered from the Ministry of Textiles and other verified organizations.It is found that production and consumption have changed after GST implementation but not much change were seen in exports, imports and FDI. The inference derived was that there were adverse consequences of GST on the Textile industry. The paper proposes changes to the approaches of government to give a lift to the industry.
Keywords-Textile Industry, GST, FDI, Exports, Production, Consumption