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Allow small powerloom units to withdraw more money: FIASWI AGM
The 39th Annual General Meeting of the Federation of Indian Art Silk Weaving Industry (FIASWI) was held in Mumbai on the December 14, 2016. Arunchandra N Jariwala has been declared as Chairman, EMERITUS. Bharatbhai T Gandhi, Director, Bell Textiles Pvt Ltd, Surat, was elected as Chairman of FIASWI for 2016-17.
Yarn stocks pile up in TN
As production in spinning mills has come to a grinding halt since demonetisation, sales of yarn in western Tamil Nadu have plummeted. As a consequence, yarn stocks are piled up in city mills most of which rely on migrant labourers who have stopped work.
TN launches new schemes for handloom
The Tamil Nadu Government has announced new schemes for promoting handloom, textile and khadi industries. A sum of Rs 175.23 crore would be spent on modernising six cooperative mills in the State. For the benefit of powerloom workers, 50 per cent subsidy would be provided to around 1,500 employees towards their insurance premium. Unveiling the new schemes, Chief Minister J Jayalalithaa said handloom, handicraft, textile and khadi industries contribute the second highest revenue to the State, next only to agriculture.
Move to tackle powerloom issues
The Union Minister of Textiles Smriti Irani has asked the Textile Commissioner to get a detailed feedback on issues faced by powerloom sector, including yarn price fluctuation, anti-dumping duty on PTA and yarn and dumping of undervalued Chinese fabric and submit a report.
Move tackle powerloom issues
The Union Minister of Textiles Smriti Irani has asked the Textile Commissioner to get a detailed feedback on issues faced by powerloom sector.
TN powerlooms seek cut in VAT on yarn
The Central Sales Tax on the yarn is two per cent, while in Tamil Nadu, the Value Added Tax (VAT) is five per cent on cotton yarn
Ups & downs in 2015
Global growth is forecast at 3.5 per cent in 2015 and 3.8 percent in 2016, with uneven prospects across the main countries and regions. Growth in emerging market economies is softening, reflecting an adjustment to diminished medium-term growth expectations and lower revenues from commodity exports, as well as country-specific factors.
Volatile & declining markets impact Indian textile industry
The 57th AGM of the Confederation of Indian Textile Industry (CITI) held in Mumbai portrayed a dismal picture of the textile industry in India. It was none other than the Chairman, Prem Malik, who painted and highlighted the negative trends that are smothering all the hopes for the textile industry.