Zyod poised for growth amid favorable budget measures
24 July 2024, Mumbai
Zyod, a tech-driven fashion manufacturing firm founded in 2023 by AnkitJaipuria and RiteshKhandelwal, Co-Founders, is making waves in the B2B sector with its design-to-delivery services for fashion brands. Recent budget announcements have set the stage for significant advancements in manufacturing, innovation, and employment.
AnkitJaipuria highlighted the budget's focus on manufacturing and youth upskilling as a significant opportunity for the sector. He emphasized that key measures like the abolition of the angel tax and the simplification of FDI rules are expected to attract private investment, bolster India's global trade position, and foster growth in the industry.
RiteshKhandelwal echoed this optimism, emphasizing the benefits for MSMEs. He highlighted the Prime Minister's package, which includes a job creation scheme and an enhanced Credit Guarantee Scheme for MSMEs, as particularly promising. The increased Mudra loan limit and revised TReDSonboarding threshold are expected to greatly benefit small businesses. Additionally, credit support during stress periods and collateral-free loans for machinery are anticipated to drive innovation and expansion in the sector.
Zyod anticipates these initiatives will bolster the manufacturing sector, ensuring business continuity and fostering long-term growth, reinforcing India’s position in global trade.
