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Why automation matters for Indian textile industry?
Benefits of automation are clear and visible. However, capital intensive nature of the textile industry and lack of availability of funds are hampering adoption of automation in India. But Indian textile industry has no choice but to invest in modern technologies to stay relevant in the global textile value chain, says Rakesh Rao.
India mulls extending RoSCTL to other textile products
India is mulling over extending the Rebate of State and Central Taxes and Levies (RoSCTL) for the garments and made-ups sector to other textile products because of the urgency to do away with the merchandise export incentive scheme (MEIS).
IEIS, MEIS changes hailed
The Cotton Textiles Export Promotion Council (Texprocil) has welcomed the Government’s decision to amend the Incremental Exports Incentivisation Scheme (IEIS) and the Merchandise Exports from India Scheme (MEIS). The Government removed the restriction under IEIS last week. “The decision of the Government to issue duty credit scrips under the IEIS without any restriction will certainly improve the cash flow of the exporters,” Texprocil Chairman RK Dalmia said.
MMF: Daring to fly higher!
For the man-made fibre industry (MMF) in India, its disgruntlement is turning into unceasing aggression. The reasons are many: China exports 65 per cent of manmade textiles out of its exports of $650 billion while India´s share of manmade textiles is hardly 20 per cent out of its exports of $40 billion.
Volatile & declining markets impact Indian textile industry
The 57th AGM of the Confederation of Indian Textile Industry (CITI) held in Mumbai portrayed a dismal picture of the textile industry in India. It was none other than the Chairman, Prem Malik, who painted and highlighted the negative trends that are smothering all the hopes for the textile industry.
$64 bn export by 2017 | An Uphill Task?
Severe competition on global level and lack of initiatives and direction on the domestic front have made a dent in India´s textile exports with a dip in figures for FY 2014-15, diminishing the scope of achieving the cherished goals. S Joseph & M Karthik take an overall look at the scene.
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