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Basant Wire-Stewart extend partnership
Stewarts of America Inc and Jaipur-based Basant Wire Industries (Pvt) Ltd have announced longstanding partnership, which has now resulted in an agreement whereby Stewarts of America Inc has provided all intellectual property, manufacturing know-how and machinery for the production of open-end spinning components.
Saree out of excise duty ambit
Textile traders in the country’s largest man-made fabric (MMF) wholesale market in Surat are upbeat following the decision of the Central Board of Excise and Customs (CBEC) to keep saree out of the ambit of made-ups.
Dual tax hits Surat textile shop owners
Textile shop owners in Surat are an unhappy lot today, for they have been asked to pay property tax for the shelf space created inside the shops for storing the grey fabrics and finished stock.
Gokaldas plans 4 apparel units in AP
Gokaldas Exports will set up four apparel manufacturing units in Andhra Pradesh. The units, which are likely to be ready in four years, are expected to entail an investment of Rs 200 crore.
Financial aid for handloom weavers
The Union Textiles Minister Smriti Irani unveiled a Mudra portal recently that will enable banks to deposit financial assistance to handloom weavers in electronic mode and credit the loan directly to their accounts.
India’s apparel exports to US up 4%
India’s apparel exports to the US rose 4.3 per cent y-o-y in January 2017. Export volumes increased 8.6 per cent but export realisation fell four per cent.
‘Go Swadeshi’ opens today
GoCoop, India’s first online marketplace for weavers and artisans will host ‘Go Swadeshi’ from today (March 15) till March 18 at Regional Institute of Co-operative Management in Banashankari in Bangalore.
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