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Textile bodies hail financial measures to boost economy
Indian textiles and clothing industry, the second largest employment provider (around 11 crore people) next only to agriculture was the second largest exporter in the world during 2017, now it has slipped to 5th position due to global recession especially in the aftermath of US-China trade war and the tariff concessions extended for the competing Nations like Vietnam, Bangladesh, Pakistan, etc.
Textile bodies appeal for status quo on energy policies in TN
Tamil Nadu textile industry that accounts for one-third of the textile business, 47 per cent of the spinning capacity providing direct jobs to over 60 lakh people especially to rural masses and women folk and fetching Rs 60,000 crore as forex earnings, is the worst affected in the country under the current unprecedented recession due to raw material / finished goods transport cost and several other factors.
A shot in the arm
With the unveiling of 207 HSN Codes for the technical textile industry in India, the Government has convincingly conveyed its seriousness to promote this industry in a big way.
GST reform a major step forward: CITI
The politics of Goods and Services Tax (GST) Bill may take some more time to sort out, but its basic impact on various industries can be analysed beforehand. GST and its impact on the textile sector was the hot topic of discussion at the recently-concluded 58th Annual General Meeting of Confederation of Indian Textile Industry (CITI), held at Hotel ITC Maratha, Mumbai on September 28, 2016. Speaking on GST were: Sachin Menon and Santosh Dalvi from KPMG, and Sanjeev Saraf and Dilip Dixit from BSR & Associates.
Smriti Irani is the new Textiles Minister
The announcement of portfolios for Prime Minister Narendra Modi’s new-look Cabinet saw some big portfolio changes among the existing ministers. In one such change, Smriti Irani will now take charge as Textiles Minister. She has taken over from Santosh Kumar Gangwar, who has now been given the Finance department. Ajay Tamta will also be given an active role in the Textiles Department. Irani was earlier the Minister of Human Resource Development. She joined the Bharatiya Janata Party in 2003. She became Vice President of the Maharashtra Youth Wing in 2004.
ITMF 2016 to be held in Nov
The International Textile Manufacturers Federation (ITMF) 2016 will be held between November 17-19, 2016 at Jaipur. Hosted by the Confederation of Indian Textile Industry (CITI), the three-day conference expects a mammoth gathering of more than 400 delegates including textile industry leaders, senior government officials and experts from across the world. The conference will offer a chance for textile manufacturers to interact with global leaders in the industry, experience new innovations in the industry and learn changing policies in global trade.
The cotton shake-up
Cotton was the first fibre for mankind. Its history is replete with controversies.
Samuel Joseph attempts to delve into some of the recent contentious issues that have blurred the white gold´s image.