Tamil Nadu textile industry has reacted positively to the increase in budgetary allocation to the sector at Rs 7,140 crore but insists that concerns over pending funds under various schemes and erosion of pre-GST incentives still hurt the industry.
Browsing: Industry Update
More than 200 CXOs representing 22 leading corporate vowed to contribute towards India’s GDP target from 17.1 per cent to 25 per cent at the India’s largest automation fair RAOTM 2018 held in Gurugram.
Dow Packaging and Specialty Plastics (P&SP), has opened its Pack Studio at Mumbai innovation center. Marking the company’s eighth Pack Studios locationâ€â€and the third in Asia Pacificâ€â€Dow P&SP’s global network of studios brings together technical experts,etc.
Arvind Ltd’s consolidated revenue for Q3 grew 16 per cent at Rs 2,706 crore over the corresponding quarter of the previous year.
Finance Minister Arun Jaitley in the Union Budget 2018-19 raised special package by 19 per cent to Rs 71.48 billion for apparel sector to boost exports. In 2016, the government had announced a special package of Rs 60 billion for the same purpose.
P Nataraj, Chairman of the Southern India Mills’ Association (SIMA) has welcomed the increased allocation of Rs 7,148 crore that includes Rs 2,300 crore for Amended Technology Upgradation Fund (TUF) scheme and the balance for other schemes as against Rs 6,251 crore allocated during last year.
Union Minister Suresh Prabhu unveiled the Central government’s Rs 2,600 crore package for the leather and footwear industry, saying it had the potential of generating over three lakh jobs and formalising another two lakh in the next three years.