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The Textile industry in the region today expressed the hope that the June 18 GST council meeting would consider reducing the GST rate on Man Made Fibres, filaments and yarns from 18 per cent to 12 per cent. There would be huge accumulation of excess credit with 18 per cent GST rate on yarn and o..

Thiruvananthapuram : Over 1,300 exhibitors will showcase their products and services at the three-day 'Textiles India 2017 fair' at Gandhinagar in Gujaratfrom June 30 to July 2. More than 2,500 international buyers from 60 countries are expected to attend the event. Addressing a press co..

Surat: Textile traders Hundreds of traders had assembled at the Goodluck textile market on the Ring Road to attend a public meeting called by the Vyapari Sangarsh Samiti (VSS) on Wednesday. VSS has appealed all the traders in the 165 textile markets on Ring Road, Salabatpura and Sahara ..

The Tiruppur Exporters' Association (TEA) has appealed to the Goods and Services Tax (GST) Council to reduce the rate for job work operations after garmenting activities to 5 per cent from 18 per cent. While the Council reduced the rate for job work in textiles to 5 per cent, it did not cove..

The silk factory at Rajbagh in Srinagar, the capital of Jammu & Kashmir, will receive Rs 23 crore by the World Bank for its revival and restoration. The factory was damaged due to the devastating floods of 2014. All the available resources will be pooled together to revive the factory, said ..

India-EAEU: A Strategic Partnership' Business Breakfast session at SPIEF 2017. Courtesy: Dmitry Koshcheev/SPIEF The Government of India as well as the governments of the Eurasian Economic Union (EAEU) member countries will shortly begin negotiations for a freetradeagreement (FTA), a seni..

The Confederation of All India Traders (CAIT) has urged Union finance minister Arun Jaitley to categorise fabrics of all kinds under the 5 per cent tax slab of the Goods and Services Tax (GST). Being a new entrant to the taxation club and given that cloth is an item of mass consumption, 5 per ce..

The Confederation of All India Traders (CAIT) has urged Union finance minister Arun Jaitley to categorise fabrics of all kinds under the 5 per cent tax slab of the Goods and Services Tax (GST). Being a new entrant to the taxation club and given that cloth is an item of mass consumption, 5 per ce..

Indian exports are on upwardtrendin last few months as thecountryended up with export of $275 billion in last fiscal, said GK Gupta, president, Federation of Indian Export Organisation (FIEO). The country could achieve a new milestone of $325 billion in 2017-18 and Gupta has suggested providing ..

The ministry of textiles has taken multiple steps to promote thewoolsector in India in the last three years, according to the latest achievementsreportof the ministry. A total grant of Rs 33.98 crore has been released under pashmina Wool Development Scheme (PWDS) and pashmina Promotion Programme..

ET Now: You have closed Q4 with a strong top line growth of about 27% but the EBITDA growth trails at 10%, is this largely because there was pressure on soda ash realisations and the fact that global capacity is getting added up? RS Jalan: If you look the GHCL as a whole for the entire year, jus..

ET Now: You have closed Q4 with a strong top line growth of about 27% but the EBITDA growth trails at 10%, is this largely because there was pressure on soda ash realisations and the fact that global capacity is getting added up? RS Jalan: If you look the GHCL as a whole for the entire year, jus..

Theviscosestaplefibre (VSF) business of Grasim Industries has registered 12 per cent increase in net revenue at Rs 1,945 crore for the fourth quarter of fiscal 2016-17. Despite the rise in pulp and energy costs, EBITDA of the VSF division increased by 30 per cent to Rs 345 crore, led by higher r..

The Goods and Services Tax (GST) rate for textile machinery has been decided at 18 per cent by the GST Council at its two-day meeting, scheduled to conclude today in Srinagar. The Council has broadly approved the GST rates for goods at nil rate and 5, 12, 18 and 28 per cent to be levied..

New Delhi: As farmers prepare fields for kharif sowing, the government is considering increasing the minimum support price (MSP) of cotton by Rs160 per quintal to Rs4,320 for the 2017-18 crop year beginning July. Reuters It is also planning to promote Bt cotton variety developed by the governmen..

Ajit B Chavan, secretary, textiles committee, Subrata Gupta, joint secretary, ministry of textiles and Kei Funaki, ASEAN and South Asia regional manager, overseas coordination department, QTEC at the The Government of India, through the textiles committee, has decided to sign a memorandum of..

Views of participating economists on strengthening domestic economy; Courtesy: FICCI's Economic Outlook Survey, May 2015 A median GDP growth of 7.4 per cent is forecast for the fiscal year 2017-18, with a minimum and maximum level of 7.0 per cent and 7.6 per cent respectively, says the l..

Countering criticism over the government’s failure to create enough jobs, the Centre on Monday said that it has provided self-employment to over 7 crore people by providing loans under MUDRA scheme. "Over Rs 7 crore people have been given loan under Prime Minister MUDRA Missi..

India has extended the anti-dumping duty on viscose filament yarn from China by one year. The duty will now be valid till May 3, 2018. The decision by the Revenue department was taken after the sunset review investigation initiated by the commerce ministry recently. The duty ranging fro..

India's growth is expected to rebound to 7.2 per cent in the 2017-18 fiscal and 7.7 per cent in 2018-19 after disruptions caused by demonetisation, the IMF said today, while recommending the removal of long-standing structural bottlenecks to enhance market efficiency. The temporary disruptio..

Minister of state for commerce and industry Nirmala Sitharaman interacting with the media on mid-term review of Foreign Trade Policy 2015-2020, in New Delhi. Courtesy: PIB The core focus of the revised ForeignTradePolicy (FTP) would be promoting exports from the small and medium enterprises ..

New Delhi: India plans to revamp its foreign trade policy and relook at incentives to give a leg-up to the export sector, which is hurt by lower global demand as well as an appreciating rupee. The government proposes to come out with a mid-term review of the foreign trade policy (FTP) 201520 in ..

Hinting that the textile industry is expected to have an uniform GST rate, Union Textile Minister Smriti Irani on Friday said that a conference will be held soon to decide on the issue. Responding to pleas at a meeting of textile industries associations and stakeholders here, for fixing five per..

Welspun India, part of the $2.3 billion Welspun Group, has announced that its revenue increased by 8.7 per cent to Rs 17,572 million in the last quarter of fiscal 2017, as compared to Rs 16,162 million in the same period last year. This growth is due to double digit growth in volumes in terry to..

Cover Story of Future Style Lab, a wholly-owned subsidiary of the Future Group, has plans to expand its business with the launch of its own online platform by the end of 2017. Aiming to achieve top line growth of over 200 per cent in the financial year 2017-18, the fashion brand which has comple..

Indian Government is working to revamp the technology mission oncotton. There already have been a series of meetings with stakeholders and researchers in this connection. The revamped cotton mission is expected to have four parts - two to deal with cotton productivity under the agriculture minis..

India's exports are expected to touch $325 billion in 2017-18 on account of rising competitiveness of Indian products and revival in global demand conditions, industry chamberPHDCCItoday said. "Our merchandise exports are expected to touch $325 billion mark in 2017-18,"PHD Cham..

India’s Union Minister of Textiles Smriti Zubin Irani recently paid a visit to Netaji Apparel Park (NAP), New Tirupur in Tamil Nadu and observed activities in one of the exporting units there. Thereafter, she participated in a meeting with the select exporters and Office Bearers of Tirupur..

Sources claimed the Minister, upon arrival, would head to Tirupur to inspect Netaji Apparel Park and Palladam Weaving Park. Union Textile Minister Smriti Irani will review the functioning of textile clusters in the region during her two-day visit, beginning tomorrow. The Minister, after ..

Indian and Kazakhstan are deliberating upon increasing cooperation in textiles sector and exploring export of raw cotton from South Kazakhstan to India for processing in Indian enterprises. The issues were discussed by the Kazakh-Indian Joint Working Group for cooperation in textiles during Apri..

Prime Minister Narendra Modi has said that the Goods and Services Tax (GST) shows the strength and resolve of the federal structure. Consensus on GST will go down in history as a great illustration of cooperative federalism and the tax reform reflects the spirit of 'One nation, One aspiratio..

Celebrating the diverse crafts and textiles of India, the Crafts Museum in national capital was a vibrant place on Tuesday evening. The Ministry of Textiles presented a curtain raiser to 'Textiles India 2017', the first ever global B2B Textile and handicrafts event in India. The event br..

Textileand apparel exporters' earnings and EBITDA margins will be impacted in the near term due to the Indian rupee's 5 per cent appreciation against the dollar in 2017 year to date and weak apparel imports from markets such as US and UK, says a recentreport. The on-going strength of the..

India’s handmade carpets may get a government trademark which will help ensure that products comply with standards and quality benchmarks. The move is important since India is a lading exporter of handmade carpets with 40 per cent share of world’s handmade rug market at around Rs 9,0..

Textiles minister Smriti Irani at the curtain raiser event of Textiles India 2017, in New Delhi. Minister of state for textiles Ajay Tamta and other dignitaries are also seen. Courtesy: PIB The ministry of textiles has presented a curtain raiser to ‘Textiles India 2017’, position..

Textiles minister Smriti Irani and minister of social justice & empowerment, Thaawar Chand Gehlot, and other dignitaries presenting tool kits to SC handicrafts artisans. Courtesy: PIB The National Scheduled Castes Finance and Development Corporation (NSFDC) and Development Commissioner (..

NEW DELHI: After having opted for multiple rates under the upcoming goods and services tax (GST) regime, India is now looking to keep variations in rates on the same types of products at a minimum to ensure that the tax structure does not get any more complicated. For example, all types of footw..

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi has given its approval for the increase in the minimum support price (MSP) for raw jute for 2017-18 season to protect the economic interests of the farmers. It has been increased to Rs 3,500 per quintal for 2017-18, an..

Odisha (India) Government has shown immense interest in the revival of Odisha Textile Mills (OTM). After a high-level meeting,Debi Prasad Mishra, Industries Ministerof the state, said, “Decision on restarting OTM was pending in court since 2001 and the State Government is hopeful to re..

A UK India Free Trade Agreement could increase bilateral trade by 26 per cent a year, according to recent analysis published by the Commonwealth Secretariat. Driven by a growth of UK exports to India, which could rise by an estimated 33 per cent per annum, a free trade agreement (FTA) could give..

India and Australia on Monday reaffirmed their commitment to the conclusion of a commercially-meaningful Comprehensive Economic Cooperation Agreement (CECA), which addresses the priorities of both sides. In a joint statement issued at the end of talks between Prime Minister Narendra Modi and his..

India has discontinued bilateral investment treaties (BITs) with most of its prominent trading partners, with termination notices given to as many as 58 countries, including EU states. All the BITs expired on April 1. According to sources, just a handful of countries — Tajikistan, Turkmeni..

Parliament has cleared the four Goods and Services Tax (GST) legislations – Central GST, Integrated GST, GST Compensations bill and Union Territory GST – which were returned by Rajya Sabha after it negated multiple amendments that were moved by the opposition parties. The clearing of..

The Union government has today announced a comprehensive scheme for powerloom sector development. The scheme was launched by Union textiles minister Smriti Irani through video conference at Bhiwandi, Maharashtra and also in all powerloom centres across thecountry, including Erode. The scheme wou..

The Narendra Modi government will table Goods and Services Tax (GST) Bill for discussion in Rajya Sabha on Wednesday. Union Finance Minister Arun Jaitley will present the bill in the Upper House as the government seeks to roll out the the pan-India tax regime on July 1. Notably, the Lok Sabha ea..

NEW DELHI: India is likely to become significantly more influential in Asia-Pacific in next five years and the number of cross-border transactions involving Indian companies is also set to increase, says a report. According to a new report by global law firm Baker McKenzie and Merger market, 90 ..

Stepping up its hunt for black money stashed abroad, India has approached Switzerland for banking details of at least ten persons and entities suspected to have kept untaxed money in Swiss banks. These include two listed textile companies, while others are associated with an art curator and his ..

The Indian Carpet Expo was successfully held in Delhi with an aim to promote the cultural heritage and weaving skills of Indian hand-made carpets and other floor coverings amongst the visiting overseas carpet buyers. The event was an ideal platform for international carpet buyers to establish bu..

North Ireland-based Carpet manufacturer Ulster Carpets has acquired Griffith Textile Machines (GTM), a UK-based manufacturer of technical textiles machinery. Ulster reports that the purchase of Griffith consolidates a long-standing relationship between the two companies. In the first phase o..

The Lok Sabha has approved four supplementary Goods and Services Tax (GST) legislations – the Central GST bill, Integrated GST bill, Compensations bill and Union Territory GST bill. The bills were passed after a number of amendments moved by the opposition parties were negated. This bill i..

The newtextilepolicy is expected to focus especially on handicraft sector and give incentives for expansion of its production base for quality manufacturing. It will have a three-pronged approach to boost the sector which is currently facing competition from international players. The policy wil..

India is negotiating a broad based BilateralTradeand Investment Agreement (India-EU BTIA) with the European Union. The negotiations started in 2007 and 16 rounds of negotiations have been held so far, however, there has been no agreement on it. Ministry of textiles is in constant touch with mini..

Welspun India Ltd., India’s leading textile conglomerate,has re-appointedRajesh Mandawewala as the Managing Director.His re-appointment has been approved by the Board for a period of five years effective April 1, 2017. Mandawewala, whose term is going to end on March 31, is the co-prom..

The Southern India Mills' Association (SIMA) is advising mills to avoid panic buying ofcottonas its price that was ruling around Rs 38,000 to Rs 39,000 per candy of 355 kgs during the beginning of the season for the benchmarked variety of Shankar-6, is currently ruling around Rs 43,500 to Rs..

Only 10 per cent of Indian textile products belong to technical textiles compared to developed nations such as Germany where 50 per cent of textile products belong to technical textile category, informed Dr. Kavita Gupta, Textile Commissioner, Ministry of Textiles at the recently concluded ..

H.B. Fuller has officially opened its business office in Pune in India and a new research and development centre in its Shirwal manufacturing facility. The developments mark the conclusion of its first phase of investment of $20 million in India. This expansion strengthens the company's comm..

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the four Goods and Services Tax (GST) bills – Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and the compensation bills. The bills were approved by the GST Council after thorough, clause by claus..

The government today launched a Rs 600-crore scheme - TIES - for developing export linked infrastructure in states with a view to promoting outbound shipments. Launched by Commerce and Industry Minister Nirmala Sitharaman, the Trade Infrastructure for Export Scheme (TIES) seeks to bridge th..

Tiruppur Exporters' Association (TEA) has welcomed the tax free Tamil Nadu Budget 2017-18, which has been presented in Tamil Nadu Assembly by D Jayakumar, the state's minister of finance. The association said that the people will benefit from the schemes announced in the budget that incl..

The outlook forcottontextiles has been revised to stable for FY18 from negative in FY17 by credit rating agency India Ratings and Research (Ind-Ra). It has also revised its outlook for synthetic textiles to stable for FY18 from negative for FY17. This revision is due to stable input prices, heal..

MUMBAI: Cotton textiles may see stability in the next financial year according to a research report by India Ratings and Research (Ind-Ra). The research agency revised its cotton outlook to stable for financial year 2018 from negative for financial year 2017 “The stable textile outloo..

Hopes of revival of cotton yarn exports from India have increased after the Chinese cotton auction began at 25 per cent higher price than that prevailing in the Indian domestic market. Since Indian cotton attracts 3.5 per cent duty in China, it is likely that Chinese textile mills would prefer t..

Bangalore – The issue of water availability, water conservation in wet processing, and wastewater discharge in the textile supply chain will dominate this year’s Planet Textiles Summit on sustainability on 24th May at the JW Marriot Hotel in Bangalore, India. As such, speakers at Pla..

Courtesy: The S Studio/Instagram The increased exposure to handloom and crafts of the various regions of India in the last few years has enabled consumers to appreciate genuine products that are handmade or handcrafted. The value of these products has grown and the increasing number of e-com..

Southern India Mills Association (SIMA) today urged Tamil Nadu Chief minister K Palaniswami to withdraw the increase of VAT on petrol and diesel, which it said has a cascading effect on textile value chain. In a representation to Palanisamy, SIMA chairman M Senthilkumar said it was affecting the..

NEW DELHI: The Commerce Ministry will consider five proposals of SEZ developers, including Oracle India and L&T Construction Equipment, for setting up new Special Economic Zones (SEZs) on March 8. These applications will be considered at the meeting of the Board of Approval (BoA), headed by ..

Version 5.0 of the Global Organic Textile Standard (GOTS) has been released. It has stricter criteria for regenerated fibres. A category 'Combined Products' has also been added. GOTS is the worldwide recognised standard for the processing of textiles made with 95 per cent ('organic&#..

The Fashion Design Council of India (FDCI) will showcase the pride of Assam with a show dedicated to what the queen of textiles - muga silk at the Amazon India Fashion Week (AIFW) Autumn-Winter’17. FDCI’s designers Samant Chauhan, who has already done a show in Shillong to promote an..

Fifteen Indian textile companies are participating in an international fashion and textile exhibition beginning here from today. "India has been an active participant of the Cairo Fashion and Tex - International Fashion and Textile Exhibition - every year. We believe that our cooperation in..

A textile park proposed to come up at Tiruchi, a south Indian city of Tamil Nadu, is getting delayed due to low interest of the administration. As per a leading Indian daily, a meeting of experienced entrepreneurs in RMG sector was convened about six months ago and their views on infrastruct..

Textile entrepreneurs have decided to make a strong representation to minister of state for textiles Sources said for providing relief in the recently announced 10 per cent capital subsidy on capital investment under the Amended-Technology Upgradation Fund Scheme (A-TUFS). Ministry of Textiles S..

New Delhi: Even after the new US administration under President Donald Trump has abandoned the proposed Trans-Pacific Partnership (TPP) agreement, India is willing to pursue its original plan to create manufacturing hubs in the CLMV countries (Cambodia, Laos, Myanmar, Vietnam) to create..

Driven by supportive demographics and government's policies, the Indian economy could touch $5 trillion by financial year 2025, according to a recentreport. Currently, thecountryhas a $2.2 trillion economy, making it the seventh largest in the world and a per capita income of $1,700 that'..