The politics of Goods and Services Tax (GST) may take some more time to sort out, but its basic impact on textile industry can be analysed beforehand. ITJ sought opinions on GST?s impact on the textile industry. Current exemptions on certain goods to continue: Multiple exemptions exist under the present tax system ? the Centre has ~300 items exempted from central excise duty, while the States (together) have ~90 items exempted from VAT. These will be merged into a Final synchronised exemption list under the GST regime.
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The sharp rise of over 35 per cent in domestic cotton prices since May 2016 will squeeze ginners and spinners profitability by over 15 per cent, says India Ratings and Research (Ind-Ra). Ind-Ra expects prices to remain elevated around the current levels of Rs 120 per kg to Rs 127 per kg till the end of the cotton crop year of September 2016. The spike in cotton prices will adversely impact the profitability of pure cotton ginners and spinners due to their inability to pass on this steep increase to their customers, at once, due to decreasing cotton demand and increased competitiveness of manmade fibre.
Spin cans and all the components are designed, materials selected and manufactured in all sizes and diameters following ISO specifications.
For over 50 years, Kolkata-based Spincan and its associates have been manufacturing card and spinning cans for the jute and textile industries. The invaluable experience and expertise built over this period have kept Spincan abreast of current technology and enabled it to provide state-of-the-art cans and accessories.
The sharp rise of over 35 per cent in domestic cotton prices since May 2016 will squeeze ginners and spinners profitability by over 15 per cent, says India Ratings and Research (Ind-Ra). Ind-Ra expects prices to remain elevated around the current levels of Rs 120 per kg to Rs 127 per kg till the end of the cotton crop year of September 2016. The spike in cotton prices will adversely impact the profitability of pure cotton ginners and spinners due to their inability to pass on this steep increase to their customers, at once, due to decreasing cotton demand and increased competitiveness of manmade fibre.
The job of the modern mill manager is an extremely demanding one – with the heavy responsibility of producing top quality textiles while also ensuring the company’s efficiency and profitability goals are met. Today’s systems for quality testing and monitoring systems are designed to make these challenges achievable, with solutions such as USTER® QUANTUM 3 yarn clearers and USTER® QUANTUM EXPERT 3 data systems offering total control of every aspect of quality management.
Italy represents elegance and exclusivity in fashion like no other country, and this southern European country still heads the top price bracket. Premium Italian fabrics enjoy an excellent reputation, and are finding new customers in the emerging economies, where great importance is attached to high-end brands. The national sector is confident that it can expand its position on the world market over the next few years, as well. The optimism of the Italian textile sector is not unfounded.
The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has proposed to set up a Rs 800 crore state-of-the art textile processing cluster housing about 100 dyeing and printing mills in Surat district and has approached the central government for 50 per cent funding. The total project cost for the cluster is pegged at Rs 800 crore. The SGCCI is eyeing 50 per cent grant from the Central Government and 25 per cent each from the State Government and the industry, according to a newspaper report.