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Digital platform launched for Indian MSME exporters
A digital platform for exporters in the micro, small and medium enterprises (MSME) industry has been launched by Indian Commerce and Industry Minister Suresh Prabhu. The interesting idea for such a platform was given by the Federation of Indian Export Organisations (FIEO). FIEO GlobalLinker will help MSMEs to digitise their businesses.
US imports jump amid tariff threats
Trade war or not, US apparel and textile imports from China surged 22.2 per cent in February to 2.54 billion square meters equivalent (SME) compared to a year earlier
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.
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.
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.
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.
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.
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