Advertise Here [468 W x 60 H pixels]
Market Monitor | August 2016

GST to boost textile exports: ITF

Textile industry in the region today welcomed the passage of GST bill by Rajya Sabha, terming it as one of the biggest and transformational reforms in the economic history of the country and said it would pave the way for growth of exports.

Thanking Prime Minister and the finance minister for this historic reform, Indian Texpreneurs Federation (ITF), an apex body of textile sector, expressed confidence about the positive impacts of GST on overall economic growth in the next few years and said it would make the manufacturing sector more competitive.

As far as the textile sector, being an essential item for the common man, textile items should be kept under GST with the minimum possible tax slab with the special rates, ITF Secretary Prabhu Dhamodharan said in a statement here.

It was an opportunity for the government to bring the entire textile sector under tax net and this move will bring more transparency in the system and will trigger growth, he said.

Tirupur Exporters' Association President A Shaktivel said GST would give a push for export of garments and described it as a "game changing" reforms.

In a letter to Prime Minister Narendra Modi, he said exporters were happy to note that consensus had been built to pass the much-awaited GST Bill.

The industries and the people will get benefit out of the introduction of GST in the system, he said and requested the Finance Minister to address any issues arise in exports further to implementation of GST system.

Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image


 
Advertise Here [728 W x 90 H pixels]
AK Technofab      Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      ATE Enterprises Pvt Ltd      Benninger AG      Bharat Beams Pvt Ltd      Bracker AG (Rieter)      C & S Electric Limited      Colorjet India Ltd      DCC Ltd      Delair India Pvt Ltd      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Graf (Rieter India)      Groz-Beckert Asia Pvt Ltd      Jacobi Machinery Pvt Ltd (Simta)      Jakob Muller AG      Jiangyin Guoguang Calender And Fibre Roller Co., Ltd      Jogindra Industries Pvt Ltd      K U Sodalamuthu and Co Pvt Ltd      Lakshmi Machine Works Ltd      Lapp India Pvt Ltd      Loepfe Brothers Ltd (Masterline)      MAG Solvics Pvt Ltd      Mangal Singh Brothers Pvt Ltd      Megastar Coolers Pvt ltd      Moksha Thermoplastics Pvt. Ltd      Peass Industrial Engineers Pvt Ltd      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Shail International Pvt Ltd      Sieger Spintech Equipments Pvt Ltd      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      SRE Corporation      Sri Lakshmi Fire Controls      Staubli AG      Swissmem      Uster Technologies AG      V. Shivkumar Associates      Vaari Textile Machine India Ltd      AK Technofab      Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      ATE Enterprises Pvt Ltd      Benninger AG      Bharat Beams Pvt Ltd      Bracker AG (Rieter)      C & S Electric Limited      Colorjet India Ltd      DCC Ltd      Delair India Pvt Ltd      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Graf (Rieter India)      Groz-Beckert Asia Pvt Ltd      Jacobi Machinery Pvt Ltd (Simta)      Jakob Muller AG      Jiangyin Guoguang Calender And Fibre Roller Co., Ltd      Jogindra Industries Pvt Ltd      K U Sodalamuthu and Co Pvt Ltd      Lakshmi Machine Works Ltd      Lapp India Pvt Ltd      Loepfe Brothers Ltd (Masterline)      MAG Solvics Pvt Ltd      Mangal Singh Brothers Pvt Ltd      Megastar Coolers Pvt ltd      Moksha Thermoplastics Pvt. Ltd      Peass Industrial Engineers Pvt Ltd      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Shail International Pvt Ltd      Sieger Spintech Equipments Pvt Ltd      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      SRE Corporation      Sri Lakshmi Fire Controls      Staubli AG      Swissmem      Uster Technologies AG      V. Shivkumar Associates      Vaari Textile Machine India Ltd