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SRTEPC inaugurates regional office in Coimbatore
With the objective of increasing its footprint across the southern part of the country, the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) has opened its regional office in the premises of the Southern India Mills Association (SIMA), Coimbatore.
TT in 30 Power Brand 2018 list
In a glittering ceremony held on March 5, 2018 in Mumbai, Brand TT was recognised as amongst the “Most Desirable 30 Brands 2018” and conferred Power Brand Status. Sanjay Jain, MD, TT Ltd, received trophy and certificate from Bollywood superstars Vidya Balan and Mousumi Chatterjee.
India, a stong market for Oerlikon: Customers Meet
“The manmade fibre (MMF) market has recovered in the last three months from the two impacts of demonetisation and GST,” said Andre Wissenberg, Vice President, Head of Marketing, Corporate Communications and Public Affairs, Oerlikon, while speaking on the challenges for the manmade fibre industry in a global environment.
Good in part!
The Budget 2018-19 is good in part for the textile industry thanks to corporate tax cut for MSMEs and higher allocation of ATUFS. The ITJ Cover Story takes stock of the Budget implications and the industry’s reactions.
Dr A Sakthivel is Vice Chairman of AEPC
Dr A Sakthivel, well-known architect of Tiruppur knit cluster, has been unanimously elected as the vice chairman of Apparel Export Promotion Council (AEPC) for 2018-19. He has previously been the chairman of AEPC for three tenures in the year 1998, 2004 and 2012 and has also been a member of Executive Committee of AEPC for the last 35 years.
COTTON USA unveils apparel innovations
COTTON USA, which unveiled latest apparel innovations at the Première Vision, featured new blended technologies in US cotton apparel that could drive sales growth.
Customs duty on silk fabrics doubled to 20%
Finance Minister Arun Jaitley proposed doubling of customs duty on silk fabrics to 20 per cent to provide adequate protection to domestic industry. According to the Budget 2018-19, customs duty on silk fabrics has been raised from 10 per cent to 20 per cent. Silk exporters, however, said the move would hit shipments of silk garments from India.
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.