The Government’s decision to withdraw the Merchandise Exports from India Scheme (MEIS) with retrospective effect is likely to erode profit margins of textile players. It will also impact exports and fresh investment in the sector.
Month: March 2020
A village in the deep south of India starts manufacturing nonwoven shopping bags as part of “self-help†effort. Azhvarthirunagari, a village on the southeastern border of India, about 30 km from seashore is using nonwoven fabrics to manufacture multiple use shopping bags.
India’s textile exports have plateaued during the past five to seven years. The domestic textile and apparel industry, including handicrafts, stood at $140 billion in 2018, of which $40 billion was exported to the world market.
The Woolmark Company was announced as an official technical partner for the Dark Ice Project – an ambitious expedition strategised by three of Britain’s most accomplished polar explorers: Alex Hibbert, George Bullard and James Wheeldon.
The renowned tradeshow on garment textile machinery ‘Gartex Texprocess India’, which is held annually in New Delhi, is all set to mark its launch in Mumbai in March 2020 owing to the demand generated by garment and textile manufacturing industry in Indian and overseas markets.
Textile industry has something to cherish in the Budget with the abolition of ADD on PTA imports, prioritisation of technical textiles sector, review of rules of origin in FTAs to curb imports from Bangladesh, and RoDTEP, NIRVIK and other measures taken.
Textile industry has something to cherish in the Budget with the abolition of ADD on PTA imports, prioritisation of technical textiles sector, review of rules of origin in FTAs to curb imports from Bangladesh, and RoDTEP, NIRVIK and other measures taken.