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SIMA hails made-ups export package
The Union Cabinet Chaired by the Prime Minister approved certain reforms to boost employment generation and exports in the made-ups sector that has been facing challenges in the international market due to high costs of production, non-refund of State levies, high tariff barrier when compared to the competing nations such as Pakistan, Vietnam, etc.
India’s apparel exports dip
During the first nine months of the current year, Indian apparel exports have declined by (-) 0.08 per cent to $2,876.59 million as compared to $2,878.79 million in the corresponding period last year. I
India’s cotton yarn exports dip
Cotton yarn exports in India declined by 11.58 per cent in terms of value and 4.44 per cent in terms of volume during April - June this year compared to the same period last year. Cotton yarn exports to China, being the major consumer has declined.
EU angles for closer ties with Pakistan
The European Union (EU), which has provided Pakistan GSP Plus status, has proposed to work on a a five-year strategic partnership with that country.
Pakistan, Thailand move closer to FTA
After having had four rounds of talks, Pakistan is pinning hopes on signing a free trade agreement with Thailand. Matters that have been discussed relate to trade in goods, rules of origin, technical barriers to trade, trade remedies, customs procedures, legal and institutional issues and trade facilitation.
Pak approves Rs 185 mn for textile sector
The Government of Pakistan has approved Rs 185 million under the Export Development Fund (EDF) for development projects to boost exports and develop the textile sector.
Rising cost hits Pak textile industry
Rising cost of doing business over last several years has not only stalled fresh investment in the textile industry but also hampered the export growth and turn over.
GST: Bane or boon?
The politics of Goods and Services Tax (GST) may take some more time to sort out, but its basic impact on textile industry can be analysed beforehand. ITJ sought opinions on GST’s impact on the textile industry. Current exemptions on certain goods to continue: Multiple exemptions exist under the present tax system – the Centre has ~300 items exempted from central excise duty, while the States (together) have ~90 items exempted from VAT. These will be merged into a Final synchronised exemption list under the GST regime.
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