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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.
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.
Pratibha bags top AEPC awards
Pratibha Syntex Ltd (Pratibha), a vertically integrated, sustainability oriented manufacturer of knitted textile products, announced that Apparel Export Promotion Council (AEPC) has bestowed it with prestigious Gold Trophy for Highest Global Exports 16-17 in the category of apparel exports above Rs 100 crore and up to Rs 500 crore and formidable Award for Environmental Sustainability during a programme held at New Delhi.
Texprocess Pavilion adds value to Techtextil India
India’s technical textile market is estimated to reach Rs 1,16,217 crore by 2017-18, and the important feature at this year’s Techtextil India, to be held from September 13 to 15, 2017 at the Bombay Convention.
Designing seamless handloom garments
Seamless clothing plays an important role with its advance technology that quickens the production process and gives comfort for the wearer without a seam. Dr S Kauvery Bai and Pallavi BS elaborate on how to design and develop seamless handloom garments using double cloth tubular weaving technique.
Clothing export to Iran in for a boost
Apparel Export Promotion Council (AEPC) has signed an MoU with the Tehran Garment Union (TGU), an influential manufacturers and retailers association with legislative power in terms of garment commercial affairs in Iran. The MoU signed during the recently-concluded 57th India International Garment Fair (IIGF) in New Delhi by Ashok G Rajani, Chairman, AEPC, and Mohamad Javad Sedghamiz, VP, TGU, will fuel efforts to promote bilateral trade and industrial cooperation in the textile and fashion sectors among Indian and Iranian partners.
BREXIT Hopes Amid Gloom
Britain’s decision to exit from the European Union is likely to heighten the uncertainty in garments and other sectors in India. Karthik Muthuveeran analyses its impact on textiles. The Brexit impact is not only limited to Britain, but also European countries. London has always acted as a financial hub, which gives access to capital markets of the world to Europe. But with Brexit, European Union will end up having a limited access to capital markets. In all likelihood, access to this market will form a key part of trade negotiations. There are as many pros as cons in Britain exiting the Europe.