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Recovery for spinners picks up
Indian spinners are likely to see a gradual performance recovery beginning 2017-18 last quarter after facing multiple problems over the last several quarters that resulted in their profitability touching six-year lows in the previous two quarters, according to a report by credit rating agency ICRA. Cotton yarn demand is also expected to gather strength.
Apparel exports continue to remain volatile: ICRA
India’s apparel exports continue to remain volatile and unencouraging with the global apparel trade not showing any signs of uptick amid subdued demand trends in the key importing countries.
Exporters WALKING a tightrope!
India’s textile exporters are finding their competitive edge getting blunt and profit margin thinner, thanks to a weak dollar, demonetisation after-effect and stiff competition from new textile nations. An Exclusive ITJ Report.
Will GST rate at 12% hit textile industry?
ICRA, an Indian independent and professional investment information and credit rating agency, opines that a 12 per cent (lower rate) recommended by the Dr Arvind Subramanian Committee will have a negative impact on the textile sector, especially the cotton value chain, which is currently attracting zero central excise duty (under optional route); unlike the man-made fibre sector, where the fibre attracts excise duty at the manufacturing stage (unlike cotton).
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