The recent announcements by the Central Government on the Aatmanirbhar Bharat Package have been welcomed by the textile sector in Coimbatore region. However, the micro and small-scale industries have sought implementation of the benefits with retrospective effect. Aatmanirbhar Bharat Package expected to create jobs in apparel sector The Aatmanirbhar Bharat …
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In a meeting held recently with the Union Finance Minister Nirmala Sitharaman, the textile industry had urged for a uniform GST rate for the entire sector The textile industry is seeking a cut on goods and services tax (GST) from the GST Council meeting on 20/09/2019. At a recent meeting …
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India, the leading producer of cotton is yet to truly capitalize on this resource, according to the Hong Kong Trade Development Council (HKTDC), which feels despite India being the largest supplier of cotton fibre and yarn to China, it loses out economically as a kilogram of yarn processed and sold …
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Spinning mills cut output as demand from garment makers dips From cotton growers to ginners, spinning mills to fabric / garment manufacturers, all in the textile industry chain foresee bad times ahead. Ginners say the demand from spinning mills is expected to remain low, with mills mostly using their reserve …
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The Southern India Mill’ Association (SIMA) has appealed to the ministry of finance to have a re-look at the new duty drawback rates announced by the Central Board of Excise and Customs (CBEC). It has also urged the government to refund all the blocked, embedded taxes, levies and accumulated input …
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Jaipur [Textile sector growing exponentially]: The textile industry is growing exponentially in the country, with Foreign Direct Investment (FDI) having tripled in three years, Union Minister Smriti Irani said today. The FDI flow into the sector reached USD 618.95 million in 2016-17. However, there is still huge potential for further …
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