The Union Ministry of Textiles has notified the rebate of State levies, which were not refunded earlier to the garment exporters, as announced in the special package for garment sector. The rebate shall be given under the Scheme for rebate of State levies on export of garments in 2016. The scheme will come into effect from September 20, 2016 and will remain in operation for a period of three years.
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India’s wool exports to the US and Europe on the decline, with the result the wool industry is shifting focus to markets such as Kazakhstan, Germany, China and Australia. Exports dropped three per cent in 2015-16 and 17 per cent from April to June 2016. Exports of wool and woolen products stood at Rs 3,012 crore in 2015-16 compared to Rs 3,112 crore a year ago. The decline is 9.4 per cent in dollar terms for the period.
Smriti Irani has announced the launch of a national helpline for weavers that would also be a census of concerned workmen. She made the announcement at the second National Handloom Day celebrations at Banaras Hindu University. The helpline, to be headquartered at the Ministry of Textiles, will enable weavers to lodge complaints with the minister directly and also give suggestions for development of the handloom sector.
A recent study by Boston Consulting Group reveals 50 per cent of Millennials believe brands ‘say something about who I am, my values, and where I fit in,’ while a recent Nielsen study found that three out of four Millennials – a coveted audience for any apparel company – are willing to pay extra for sustainable product offerings. Fashion brands that ignore the clear preference of Millennials for sustainable products and the business opportunity this presents do so at their peril.
The India?s Ministry of Skill Development and Entrepreneurship (MSDE) and the Ministry of Textiles signed a memorandum of understanding (MoU) to develop the Indian handloom industry with skill development. MSDE and the textiles ministry have chalked out a new strategy for promoting production and marketing of high value quality handloom products. At present, 28 Weavers Service Centres (WSCs) across the country are providing technical assistance to handloom weavers, which are the nodal agency for carrying out skill up-gradation training in the sector.
The India?s Ministry of Skill Development and Entrepreneurship (MSDE) and the Ministry of Textiles signed a memorandum of understanding (MoU) to develop the Indian handloom industry with skill development. MSDE and the textiles ministry have chalked out a new strategy for promoting production and marketing of high value quality handloom products. At present, 28 Weavers Service Centres (WSCs) across the country are providing technical assistance to handloom weavers, which are the nodal agency for carrying out skill up-gradation training in the sector.
Danfoss and Sondex have announced an agreement for Danfoss to acquire full ownership of privately-held Sondex Holding A/S, a global leader in heat transfer technologies. Sondex develops, produces and markets heat exchangers, and the company represents an ideal match to the Danfoss Heating business segment. Thus the acquisition confirms Danfoss’ strategic focus on building leading positions and accelerating profitable growth. “Sondex is a well-performing company with a second-to-none heat exchanger expertize, which perfectly fits our ambition to further strengthen our position within heat transfer solutions.