The Budget 2018-19 is good in part for the textile industry thanks to corporate tax cut for MSMEs and higher allocation of ATUFS. The ITJ Cover Story takes stock of the Budget implications and the industry’s reactions.
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The special package was raised considering the fact that there were blockages of funds in previous year as very few GST refunds were cleared between July and December, says Avinash Mayekar.
Reducing power tariff and raising capital subsidy for spinning mills are two key aspects of the new Maharashtra Textile Policy, which takes forward the ‘Make in Maharashtra’ concept to strengthen the cotton industry.
In the air audit for Lakshmi Mills, ELGi focused on understanding the usage and efficiency level of its compressed air system. Acompany with over a 100-year-old legacy in the textile market in India, Lakshmi Mills, has two production facilities in Tamil Nadu – in Palladam and Kovilpatti.
The Indian textile industry needs to evolve and take huge steps as far as providing the training to their workforce is concerned, feels Avinash Mayekar.
Indian textile industry cannot afford to ignore the implications of ‘skilling’ the labour force, for to sharpen the competitive edge in producing and exporting quality textile goods, skilled labour is a must. The ITJ cover story traces the ‘skilling’ moves in the textile industry.
The Textile Sector Skill Council (TSC), a non-profit organisation, works towards the development of skilled workforce for the textile industry through setting curriculum for training and accreditation of trade competency.