The textile and diamond industries in Surat have strongly welcomed the Union Budget presented by Finance Minister Nirmala Sitharaman, with the Southern Gujarat Chamber of Commerce and Industry (SGCCI) describing it as a “development-oriented budget” aligned with the vision of “Sabka Saath, Sabka Vikas.”
Industry leaders praised the decision to allow SEZ-based diamond and jewellery units to sell certain products in the domestic market at concessional duty, easing liquidity pressure and improving capacity utilisation. The announcement of a Self Reliant India Fund, collateral-free loans under CGTMSE, cluster-wise textile upgradation, and the creation of Centres of Excellence were also hailed as major positives for MSMEs and textile clusters.
The budget’s focus on mega textile parks, the National Fibre Mission, a proposed textile university, handloom and handicraft support, and semiconductor development is expected to strengthen manufacturing, employment, and exports. The gems and jewellery sector welcomed the removal of the ₹10 lakh cap on international e-commerce exports, simplified customs processes, and improved credit flow for MSMEs.
Industry representatives believe these measures will accelerate economic growth in Surat, enhance global competitiveness, improve ease of doing business, and support India’s long-term export ambitions.
