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]
AB Carter India Pvt Ltd      ACIMIT- ITALY      ANDRITZ Perfojet SAS      Arshad Electronics Pvt Ltd      Arvind Rub-Web Controls Ltd      ATE Enterprises Pvt Ltd      Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Best Power Equipments India Pvt Ltd      Bharat Beams Pvt Ltd      Biancalani Srl      Bracker AG (Rieter)      Brugarolas India Pvt Ltd      C.Gheewala And Co.      Condair      DCC Print Vision LLP      DN Associates      Elgi Electric and Industries Ltd      Elgi Equipments Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Fourwents Engineering Co.      Grasim Industries Ltd (Liva)      Henna Tex      Jakob Muller AG      Jogindra Industries Pvt Ltd      Lakshmi Machine Works Ltd      Lapp India Pvt Ltd      Loepfe Brothers Ltd (Masterline)      Luwa India Pvt Ltd      M-Tex Enterprises / M-Tex India      MAG Solvics Pvt Ltd      Mangal Singh Brothers Pvt Ltd      Marvel Gloves Industries / FAB Industries      Marzoli Machine Textiles S.R.L      Mayur Reeds And Healds Pvt Ltd      Meera Industries Ltd      Mohler Machine Works Pvt Ltd      Nestling Technologies      Premier Evolvics Pvt Ltd      Rabatex Industries      Redington (India) Ltd      Rieter India Pvt Ltd (Graf)      Rieter India Pvt Ltd (Novibra)      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd (Comber)      Saurer Textile Solutions Pvt. Ltd      Savio Texcone Pvt Ltd      Shakti Textile      Sheeba Engineering Co      Skaat Machine Works India Pvt Ltd      SRE Corporation      Stella India      Stovec Industries Ltd      Sunrise Industries      Texfab Engineers (I) Pvt Ltd      Thies GmbH and Co.      Thymas Electronics Pvt Ltd      Truetzschler India Pvt Ltd      Unitop Aquacare      Uster Technologies AG      Vetal Hitech Machines Pvt. Ltd      AB Carter India Pvt Ltd      ACIMIT- ITALY      ANDRITZ Perfojet SAS      Arshad Electronics Pvt Ltd      Arvind Rub-Web Controls Ltd      ATE Enterprises Pvt Ltd      Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Best Power Equipments India Pvt Ltd      Bharat Beams Pvt Ltd      Biancalani Srl      Bracker AG (Rieter)      Brugarolas India Pvt Ltd      C.Gheewala And Co.      Condair      DCC Print Vision LLP      DN Associates      Elgi Electric and Industries Ltd      Elgi Equipments Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Fourwents Engineering Co.      Grasim Industries Ltd (Liva)      Henna Tex      Jakob Muller AG      Jogindra Industries Pvt Ltd      Lakshmi Machine Works Ltd      Lapp India Pvt Ltd      Loepfe Brothers Ltd (Masterline)      Luwa India Pvt Ltd      M-Tex Enterprises / M-Tex India      MAG Solvics Pvt Ltd      Mangal Singh Brothers Pvt Ltd      Marvel Gloves Industries / FAB Industries      Marzoli Machine Textiles S.R.L      Mayur Reeds And Healds Pvt Ltd      Meera Industries Ltd      Mohler Machine Works Pvt Ltd      Nestling Technologies      Premier Evolvics Pvt Ltd      Rabatex Industries      Redington (India) Ltd      Rieter India Pvt Ltd (Graf)      Rieter India Pvt Ltd (Novibra)      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd (Comber)      Saurer Textile Solutions Pvt. Ltd      Savio Texcone Pvt Ltd      Shakti Textile      Sheeba Engineering Co      Skaat Machine Works India Pvt Ltd      SRE Corporation      Stella India      Stovec Industries Ltd      Sunrise Industries      Texfab Engineers (I) Pvt Ltd      Thies GmbH and Co.      Thymas Electronics Pvt Ltd      Truetzschler India Pvt Ltd      Unitop Aquacare      Uster Technologies AG      Vetal Hitech Machines Pvt. Ltd