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Boost for textiles exports
Finance Minister Arun Jaitley in the Union Budget 2018-19 raised special package by 19 per cent to Rs 71.48 billion for apparel sector to boost exports. In 2016, the government had announced a special package of Rs 60 billion for the same purpose.
GST Plus Outweighs Minus!
The long-awaited GST rates have sparked off many a smile and a few wails in the textile industry! While the majority of textile industry, particularly the garment industry, has gone gung ho over the new rates of GST, synthetic textile segment has been crying hoarse, legitimately over the 18 per cent rate.
$64 bn export by 2017 | An Uphill Task?
Severe competition on global level and lack of initiatives and direction on the domestic front have made a dent in India´s textile exports with a dip in figures for FY 2014-15, diminishing the scope of achieving the cherished goals. S Joseph & M Karthik take an overall look at the scene.
States in $500-BN RAce!
Some States have upped their ante in textiles, declaring it a ´sunrise industry´ and by improving infrastructure and policies, they promise to lend a helping hand to the Indian Government´s efforts to carve out a bigger slice in global textile trade. Joseph S and Karthik M recount the story with details.
Fabrics Flood India | China´s dumping accounts for 80%
Woes for the man-made fibre (MMF) industry have been piling up, with the proverbial last straw being the dumping of cheap fabrics in the last one year amounting to $850 million by countries including three major Asian nations ´ China, Taiwan and Korea.
IAF signs MoU with HKGCOT
The International Apparel Federation (IAF) has signed an MoU with the Hong Kong General Chamber of Textiles (HKGCOT). The aim is to exchange knowledge on innovation, apparel markets and international business opportunities.
Garment industry faces payment crisis
The readymade garment industry is facing a huge payment defaults by bulk buyers with the prolonged economic slowdown affecting retail sales. The Clothing Manufacturers Association of India (CMAI) has expanded its arbitration committee to 15 members from four, so that it can provide representation to every sector of the industry.
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