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Tuesday, 12 September 2017

Zenitex CEO Desai bags Giants International honour

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Viral Desai (3rd from left) receiving the Giants International award Viral Desai, Gujarat’stextileecopreneur and CEO of the Surat based Zenitex, has been honoured with Giants International award for his tremendous contribution towards environment protection and his social initiative &l..

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Monday, 11 September 2017

India's GDP growth momentum stays strong: Morgan Stanley

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Though disruptions related to the goods and services tax (GST) resulted in economic activity in India losing its steam, the growth momentum remains strong and thecountrymay still witness a 6.7 per cent GDP growth in the current fiscal, according to a recent Morgan Stanleyreport. In April-June, e..

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Saturday, 9 September 2017

Civil disobedience by handloom manufacturers against GST

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Indian handloom and handicraft manufacturers have joined together to oppose goods and services tax (GST) on khadi items and those made from coir, grass and jute. Workers led by Graama Seva Sangha (GSS) launched a ‘tax denial satyagraha’ in Bengaluru on September 8, urging traders not..

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Friday, 8 September 2017

Telangana seeks more CCI cotton purchase centres

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A group of MPs from Telangana, led by the state’s irrigation minister T Harish Rao, recently asked Union minister Smriti Irani to instruct theCottonCorporation of India to open more purchase centres in the state as bumper harvest is expected this year. Irani has decided to send the textile..

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Tuesday, 5 September 2017

Telangana to woo investors at Techtextil India 2017

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Courtesy: Messe Frankfurt With the aim to attract investors to the megatextilepark in Telangana, the department of handlooms and textiles, Government of Telangana has signed up for the InternationalTradeFair for Technical Textiles and Nonwovens - Techtextil India 2017. The government aims to..

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Monday, 4 September 2017

Indian cotton yarn exports fall between April to July

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Indiancottonyarn exports witnessed a fall of 9.79 per cent in the first four months of fiscal 2017-18, according to data compiled by the Cotton Textiles Export Promotion Council (TEXPROCIL). Exporters cite slow pick up by China and Bangladesh, the two big target markets comprising around half of..

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Friday, 1 September 2017

Vijay Textiles Q1 FY18 net profit jumps 245%

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The net profit of Vijay Textiles Limited jumped 245 per cent to Rs 1.72 crore in the first quarter of fiscal 2018 as against Rs 0.49 crore in the first quarter of fiscal 2017. The company's total revenue rose 66.54 per cent amounting to Rs 40.94 crore in the first quarter of fiscal 2018 comp..

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Thursday, 31 August 2017

TUV Rheinland India to work with EPCH

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TUV Rheinland India, a subsidiary of Germany’s TUV Rheinland Group, a worldwide leader in testing, training, inspection, consulting and certification, has signed an MoU with Export Promotion Council for Handicrafts (EPCH), engaged in promotion of exports of handicrafts from India, to work ..

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Thursday, 31 August 2017

India begins investigation on NFY import from EU, Vietnam

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Directorate General of Anti Dumping & Allied Duties, ministry of commerce and industry, Government of India, has initiated anti-dumping investigation concerning imports of “NylonFilamentYarn (Multi Filament)” originating in or exported from EU and Vietnam. The product under c..

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Monday, 28 August 2017

SDC organising training courses on colour management

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With Fibre2Fashion as its marketing partner, Society of Dyers and Colourists (SDC) is organising training courses to impart sound understanding of colouration, colour management, and colour fastness. The courses, providing in-depth knowledge and a firm grounding in fabric colourat..

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Saturday, 26 August 2017

India urges Uzbekistan to cut tariff on fabrics, madeups

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The Government of India has requested Uzbekistan to consider reduction of import tariff imposed by Uzbekistan, especially on fabrics and madeups. India’s commerce and industries minister Nirmala Sitharaman also urged the visiting Uzbek ministers to reduce duty on readymade garments and..

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Wednesday, 23 August 2017

Korean team happy with Kakatiya textiles park location

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A visiting Korea Federation ofTextileIndustries (KFTI) delegation has expressed satisfaction over the location and infrastructure of the proposed Kakatiya Mega Textiles Park in Telangana’s Warangal Rural district. Delegation chairman and Youngone Corporation chief Kihak Sung offered a few ..

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Thursday, 10 August 2017

Cut in textile job work GST a huge relief: Texprocil

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The reduction in Goods and Services Tax (GST) rate for job work for the entire value chain of textiles sector to 5 per cent is a huge relief for the sector, TheCottonTextiles Export Promotion Council (Texprocil) has said. Prior to GST Council’s recent decision, job works related to man-mad..

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Monday, 7 August 2017

GST Council finalises e-way Bill

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The Goods and Services Tax (GST) Council, headed by Union finance minister Arun Jaitley and comprising finance ministers of all states, has finalised the e-way Bill. The Bill mandates pre-registration of all goods worth over Rs 50,000 before they are transported for sale. However, pre-registrati..

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Saturday, 5 August 2017

India's textile exports show 3.2% CAGR rise in 3 years

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India’s export of textiles and garments showed a CAGR increase of 3.2 per cent in the last three years from Rs 2,47,546 crore in fiscal 2014-15 to Rs 2,63,494 crore in 2016-17. The foreign direct investment (FDI) equity inflow in the sector rose by 169 per cent from $230.13 million in 2015..

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Tuesday, 1 August 2017

CBEC issues clarifications on GST for textiles sector

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The Central Board of Excise and Customs (CBEC) and Commercial Taxes Departments of States/Union Territories have jointly issued clarifications on various aspects related to the Goods and Services Tax (GST). This comes in the wake of protests against various clauses and rules under the GST regime..

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Thursday, 27 July 2017

198 exhibitors took part in Heimtextil, Ambiente India

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Courtesy: Heimtextil India Around 198 exhibitors and 7,457 visitors attended India’s leading home fashiontradefair duo Heimtextil India and Ambiente India, held during June 20-22, 2017 in New Delhi. The shows marked the start of the pre-festive retail season in India. One-on-one buyer-..

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Monday, 24 July 2017

TEXTILE SECTOR HIT, EXEMPT IT FROM GST: OPPOSITION

The Opposition in Rajya Sabha raised Thursday the issue of protests by textile manufacturers and traders against GST, saying the new tax would adversely affect the industry, especially the handloom segment. Several Opposition members raised the matter during zero hour, with some demanding that t..

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Saturday, 22 July 2017

No shortage of cotton & yarn in country: Minister

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There is no shortage ofcottonand yarn in thecountry, and the Central Government reviews the cotton availability position from time to time, minister of state for textiles Ajay Tamta has said. Adequate availability of cotton is ensured through domestic production andtextilemills are able to sourc..

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Friday, 21 July 2017

Textile traders end strike following Centre's assurance

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Textilemarkets in Surat, Ahmedabad, Rajkot and other places have opened after textile traders called off their strike against the imposition of five per cent Goods and Services Tax (GST) on fabrics. The strike was called off after Union finance minister assured Surat and Ahmedabad textile market..

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Wednesday, 19 July 2017

Improvement expected in textiles production: FICCI survey

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For the April-June 2017-18 quarter, a little over two-fifths of participants expect their production level to be similar to that of same quarter last year, while a third expect it to be higher as compared to the same over the same period, says the latest FICCI quarterly survey on Indian manufact..

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Tuesday, 18 July 2017

EXPORTS GROWTH SLOWS IN JUNE, TRADE GAP WIDENS

New Delhi: India’s exports growth slowed to a four-month low in June while heavy buying of gold lifted imports, causing a spike in trade deficit from a year earlier, though the gap narrowed from the previous month. Exports grew 4.39% to $23.5 billion, while imports rose fast..

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Monday, 17 July 2017

INDIA'S EXPORTS UP 4.39% IN JUNE, TRADE DEFICIT WIDENS ON IMPORTS OF GOLD AND OIL

India's export grew by 4.39 per cent to $23.56 billion in June as shipments of chemicals, engineering and marine products improved, according to the official data released today. Import too rose by 19 per cent to $36.52 billion in June from $30.68 billion in the year-ago month due to ri..

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Friday, 14 July 2017

Indian govt carrying out 4th census of handloom weavers

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The government is carrying out the fourth national census of handloom weavers and allied workers to get a realistic picture of their presence and tailor policies for their welfare. It has already started collating data for this purpose. The exercise is expected to get completed by December 2017 ..

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Thursday, 13 July 2017

GOVT PROCUREMENT THROUGH GEM HELPS 20-30% CUT IN PRICES: SITHARAMAN

Procurement through the Government e-Market (GeM) platform has led to a 20-30 per cent reduction in prices compared to before, Commerce & Industry Minister Nirmala Sitharaman has said. The Central and State governments procure goods and services worth overRs.5 lakh crore annually, and th..

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Wednesday, 12 July 2017

GARMENT EXPORTS LIKELY TO REGISTER 15-18 PC GROWTH IN FY 18

Mumbai: India's garment exports are expected to register a 15-18 per cent growth in FY 18 as against USD 17 billion registered last year, a senior government official said here."We have clocked 18 per cent growth in garment exports since January 2017 and we hope that similar trend may c..

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Tuesday, 11 July 2017

INDIAN TEXTILE SECTOR TO TOUCH $250 BILLION BY 2019'

The Indian textile industry will grow in size to be a $250 billion market in the next two years from $150 billion now as the sector has tremendous growth potential, according to textile commissioner Kavita Gupta. Currently the domestic market of the country is estimated to be a $110 billion mark..

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Saturday, 8 July 2017

'Indian textile sector to touch $250 billion by 2019'

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The Indiantextileindustry will grow in size to be a $250 billion market in the next two years from $150 billion now as the sector has tremendous growth potential, according to textile commissioner Kavita Gupta. Currently the domestic market of thecountryis estimated to be a $110 billion market, ..

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Thursday, 6 July 2017

INDIA, RUSSIA TEXTILE TRADE LIKELY TO REACH MORE THAN $1BN

The textile trade between India and Russia currently stands at $161 million, but has the potential to reach more than $1 billion with a huge market of winter wears in Russia, said J K Dadu, additional secretary, Union ministry of textiles while speaking at a country session on the second day of ..

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Thursday, 6 July 2017

INDIA INVITES FIRMS FROM ASEAN COUNTRIES TO INVEST

Keen on fast-tracking the negotiations on the Regional Comprehensive Economic Partnership (RCEP), India on Tuesday invited companies from Asean countries to invest in numerous sectors here. Talking at the 9th edition of the Delhi Dialogue, a conference in which policymakers converge to discuss a..

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Wednesday, 5 July 2017

TEXTILES INDIA 2017: INDUSTRY LEADERS RAISE CONCERNS OVER IMPACT OF GST ON EXPORTS

Rakesh Mohan Joshi, faculty at Indian Institute of Foreign Trade, said that GST implementation remained a concern for the industry at large. A day after the goods and services tax (GST) roll-out, concerns regarding its implementation were shared by various industry leaders who took part in confe..

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Tuesday, 27 June 2017

INDIA-AUSTRALIA TO BOOST COLLABORATION IN CLOTHING, FASHION

India and Australia will intensify cooperation in the field of textiles, clothing, handloom and fashion, with the government approving an agreement between the two nations in this regard. The Memorandum of Understanding between the Ministry of Textiles and the Department of Foreign Affairs and T..

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Thursday, 22 June 2017

REDUCE GST ON MMF & YARN FROM 18 TO 12 PC; TEXTILE INDUSTRY

The Textile industry in the region today expressed the hope that the June 18 GST council meeting would consider reducing the GST rate on Man Made Fibres, filaments and yarns from 18 per cent to 12 per cent. There would be huge accumulation of excess credit with 18 per cent GST rate on yarn and o..

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Monday, 19 June 2017

TEXTILES INDIA 2017 TO BOOST EXPORT: MINISTER

Thiruvananthapuram : Over 1,300 exhibitors will showcase their products and services at the three-day 'Textiles India 2017 fair' at Gandhinagar in Gujaratfrom June 30 to July 2. More than 2,500 international buyers from 60 countries are expected to attend the event. Addressing a press co..

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Saturday, 17 June 2017

TEXTILE TRADERS, POWERLOOM UNITS TO OBSERVE BANDH TODAY

Surat: Textile traders Hundreds of traders had assembled at the Goodluck textile market on the Ring Road to attend a public meeting called by the Vyapari Sangarsh Samiti (VSS) on Wednesday. VSS has appealed all the traders in the 165 textile markets on Ring Road, Salabatpura and Sahara ..

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Thursday, 15 June 2017

Reduce GST for job work after garmenting to 5%: TEA

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The Tiruppur Exporters' Association (TEA) has appealed to the Goods and Services Tax (GST) Council to reduce the rate for job work operations after garmenting activities to 5 per cent from 18 per cent. While the Council reduced the rate for job work in textiles to 5 per cent, it did not cove..

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Saturday, 10 June 2017

World Bank approves Rs 23 cr for Srinagar silk factory

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The silk factory at Rajbagh in Srinagar, the capital of Jammu & Kashmir, will receive Rs 23 crore by the World Bank for its revival and restoration. The factory was damaged due to the devastating floods of 2014. All the available resources will be pooled together to revive the factory, said ..

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Wednesday, 7 June 2017

India, EAEU to soon begin FTA negotiations: Official

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India-EAEU: A Strategic Partnership' Business Breakfast session at SPIEF 2017. Courtesy: Dmitry Koshcheev/SPIEF The Government of India as well as the governments of the Eurasian Economic Union (EAEU) member countries will shortly begin negotiations for a freetradeagreement (FTA), a seni..

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Tuesday, 6 June 2017

Categorise fabrics of all kinds under 5% GST slab: CAIT

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The Confederation of All India Traders (CAIT) has urged Union finance minister Arun Jaitley to categorise fabrics of all kinds under the 5 per cent tax slab of the Goods and Services Tax (GST). Being a new entrant to the taxation club and given that cloth is an item of mass consumption, 5 per ce..

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Saturday, 3 June 2017

Categorise fabrics of all kinds under 5% GST slab: CAIT

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The Confederation of All India Traders (CAIT) has urged Union finance minister Arun Jaitley to categorise fabrics of all kinds under the 5 per cent tax slab of the Goods and Services Tax (GST). Being a new entrant to the taxation club and given that cloth is an item of mass consumption, 5 per ce..

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Monday, 29 May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

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Indian exports are on upwardtrendin last few months as thecountryended up with export of $275 billion in last fiscal, said GK Gupta, president, Federation of Indian Export Organisation (FIEO). The country could achieve a new milestone of $325 billion in 2017-18 and Gupta has suggested providing ..

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Saturday, 27 May 2017

Indian textiles ministry promotes wool sector

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The ministry of textiles has taken multiple steps to promote thewoolsector in India in the last three years, according to the latest achievementsreportof the ministry. A total grant of Rs 33.98 crore has been released under pashmina Wool Development Scheme (PWDS) and pashmina Promotion Programme..

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