The eighth edition of the bi-annual event of International Apparel and Textile Fair (IATF) had received an overwhelming response from the apparel and textile manufacturers in the country worldwide.
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Peass Industrial Engineers, which has a rich history of 50+ years, is a leading manufacturer, supplier and exporter of textile machinery spares in India.
The Centre has promised to refund the entire pending claims of textile exporters under GST and IGST (Integrated GST) in 15-20 days.
The Union Government has assured the textile and clothing industry that it will identify Central and State embedded taxes and work out a reimbursement scheme soon.
The two historical reforms viz., demonetisation and GST, brought by the Government within a span of eight months, though had a big impact on the performance of the textile manufacturing sectors especially the garment exports,etc.
Union Minister Smriti Irani said the textile sector has attracted up to Rs 27,000 crore investments since the announcement of incentive package last year, and is likely to get more investment from international and domestic markets going forward.
Indian textile and clothing exports register positive growth. In 2017, India remained as the world’s leading cotton yarn exporter with a global market share of 25 per cent.