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SIMA hails 10-point vision for economic growth
The NDA Government brought several historical reforms during its tenure 2014-2019 especially on the tax structure making the country “One Nation One Tax One Market” by implementing the GST successfully.
Positive trend continues for Italian machinery
The positive trend in textile machinery orders continues through to the third quarter of 2017. ACIMIT president Alessandro Zucchi states, "Growth for the Italian market is progressing, albeit following a more contained rhythm.
Rs 1,200 cr for Telengana textile industry
A budget of Rs 1,200 crore has been allocated by the Government of Telangana for the textile sector for the year 2017-18. Around Rs 373 crore will be used for the handloom sector, while Rs 827 crore has been allocated for powerlooms and its modernisation.
Budget: A positive influence
The focus during the budget session was predominantly on infrastructure, affordable housing, agriculture, rural development, employment, speedy accountability, prudent fiscal management and transparency in taxation, says Amit Gugnani.
A bag of mixed fortunes
The overall proposed structure to revive rural consumption and rural development in the Budget is likely to give an indirect impetus to the textile industry.
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.
Gujarat imposes 5% tax on technical textiles
Saurabh Patel, Finance Minister, has announced in Budget 2015-16 that the Government of Gujarat will impose five per cent tax on technical textiles. The proposal to impose tax on technical textiles will bring additional tax revenue of approximately Rs 80 crore, Patel said.